KUCHING: Bank Rakyat and Tekun Nasional are expanding their branches to cover more rural areas, said Minister of Entrepreneur Development and Cooperatives Datuk Seri Dr Wan Junaidi Tuanku Jaafar.
According to him, the banks were mainly focusing on high density areas and areas with vibrant business activities in need of banking systems.
“The initiative was made in view of the low penetration by banks in Sarawak. Although Tekun Nasional has been carrying out its mobile services by using boats, the efforts were made easier by the state government which allows our officers to be placed in all district offices,” he said.
He said this during a press conference after handing over Tekun’s Covid Business Recovery Micro (CBRM) and Cooperatives Aid Scheme from Malaysia Cooperatives Commission at Bank Rakyat Simpang Tiga branch on Saturday (Jun 13).
He said on expanding the penetration of Bank Rakyat into rural areas, he had ask for research to be made based on a suggestion of the director of Bank Negara Sarawak.
“We are penetrating these rural areas where there is no commercial bank,” he said.
Thus, in unison with the state government’s effort to provide mobile banking services, also in rural areas, Wan Junaidi announced that Bank Rakyat would participate in the initiative.
“This would create high penetration into the rural areas so that people there can open their savings accounts, invest their money, apply for loans and many others,” he explained.
Additionally, he also mentioned that as of now, Tekun Nasional had approved a total of 939 loal applications amounting to RM10.3 mln.
He added that Tekun Nasional’s Covid Business Recovery Micro (CBRM) had also provided RM7.2 million for 1,038 approved applications.
“With that, the total number of applications approved is 1,977 worth RM17.5 million between January and June 10 this year,” he said.
