Bank Rakyat introduces Arrow mobile service

Abang Johari flanked by Deputy Chief Minister Tan Sri Datuk Amar Dr James Jemut Masing and Wan Junaidi during the launching ceremony.

KUCHING: Bank Rakyat has launched a new Mobile Bank banking facility initiative known as Arrow meant to initially serve Bintulu.

It was launched by the Chief Minister Datuk Patinggi Abang Johari Tun Openg together with the Minister of Federal Entrepreneur Development and Cooperatives (Medac) Datuk Seri Dr Wan Junaidi Tuanku Jaafar yesterday.

Bintulu is Arrow’s second Malaysian location, following Johor, and was established to meet the banking needs of the underserved communities, especially in rural Sarawak.

According to Wan Junaidi, the introduction of Arrow is in line with the country’s desire to create balanced urban and rural development to have access to such facilities.

“This will allow the community to access banking services without having to travel hundreds of kilometres to the main urban centres.

“At the same time, having access to Arrow’s financial services will help to improve cash flow in the local area. This initiative not only makes it easier for the local community to perform financial transactions, but it also makes it easier for entrepreneurs and cooperatives to conduct daily business through this alternative channel.” he said.

Among the banking services offered are Opening of Savings Account-i, Term Deposit Account-i or Electronic Current Account-i (ECA-i), Mortgage Financing-i (Ar-Rahnu), Cash transactions, Financing application and payment, Credit Card Application-I, Takaful application, Bill payment, Remittances, Financial transactions to Tabung Haji, Companies Commission of Malaysia (SSM) and SSPNi.

Meanwhile, acting chief executive officer of Bank Rakyat Datuk Syed Abdul Aziz Syed Hassan, said that through the facilities offered by Arrow, Bank Rakyat’s products can penetrate the market in the interior of Sarawak.

“This Mobile Bank initiative aligns with Bank Rakyat’s Strategic Plan 2025 (BR25) goals of popularising banking services and digitising the banking system so that our services can be enjoyed across borders.

“It is also to improve Value-Based Intermediation (VBI), as suggested by Bank Negara Malaysia, in order to have a positive effect on the economy and society by providing sustainable and inclusive financial services,” he added.

During the launchin event the chief minister also launched the Mobile Bank from Bank Simpanan Nasional (BSN), AgroBank and RHB Bank which is one of the state government’s initiatives to provide banking facilities for the community here.

Arrow operates Monday to Friday in Bintulu, including Tatau, Sebauh, Sungai Asap, Nyalau and Kuala Tatau.