Agro Bank Malaysia
 |
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| Type | Government-linked-Company (GLC) |
|---|---|
| Industry | Banking and Finance Services |
| Founded | 1969 |
| Headquarters | Kuala Lumpur, Malaysia |
| Key people | Tan Sri Faizah bt. Mohd. Tahir(Chairman) Encik Wan Mohd. Fadzmi bin Wan Othman (President/Chief Executive Officer) |
| Products | Banking and Finance |
| Website | http://www.agrobank.com.my |
Agrobank, formerly known as Bank Pertanian Malaysia, is an institution which provides holistic financial services and banking facilities such as savings activities, banking services, loan facilities, insurance coverage and advisory services. It is a Government-linked-Company (GLC) under the Minister of Finance Incorporated (MFI) with 176 branches in 14 states of Malaysia (as at 25 October 2011). Focusing on agriculture, the bank’s financing of the agricultural sector is driven by a policy set forth by the Ministry of Agriculture and Agro-based Industries.
Contents |
[edit] Background
[edit] Vision
To become a leading bank with focus on the agricultural sector.
[edit] Mission
The bank will provide financial services holistically according to market demands and customer needs through prudent financial management to:
1. Agro-entrepreneur
2. Micro, small and medium-scale entrepreneurs
3. Individuals
[edit] Roles and Functions
1. Provides financial and banking services with a focus on the agriculture sector
2. Upgrades and encourages agricultural financing by the commercial banking sector
3. One of the agents for the Government’s development programme
4. The centre of agricultural expertise
5. Provides credit ratings for agriculture
[edit] Board Members
As current year (2011)
- Tan Sri Faizah bt. Mohd. Tahir (Chairman)
- Wan Mohd. Fadzmi bin Wan Othman
- Rashidah bt. Mohd. Sies
- Datuk Dr. Saharan bin Haji Anang
- Datuk Johar bin Che Mat
- Ng Chih Kaye
- Md. Hilmi bin Datuk Haji Md. Noor
- Datin Ruzaina bt. Wan Haniff
- Dato' Che Mohd. Hashim bin Abdullah
[edit] Management Committee
President/Chief Executive Officer
- Mr. Wan Mohd Fadzmi bin Wan Othman
Chief Financial Services Officer
- Mr. Krishna Kumar
Chief Transformation Management Officer
- Mr. Nik Abdullah Shukri bin Nik Mustapha
Chief Operations Officer
- Mr. Asmuni bin Sudin
Chief Finance Officer
- To be informed
Chief Human Resource Officer
- Mr. Norhisham bin Ahmad
Chief Corporate Services Officer
- Mr. Mohd Azizul bin Azmi
Chief Credit Officer
- Mr. Azizan bin Ahmad
Chief Risk Officer
- Mr. Muslim bin Hussain
[edit] History
Agrobank was established in 1969 under the Act of the Parliament of Malaysia No. 9/69 on 1 September 1969 as "A development finance institution directly involved in financing the agriculture sector." It commenced operations on 1 January 1970.
On 12 December 2007, Dewan Rakyat (the Lower House of the Parliament) has approved the proposed Bank Pertanian Malaysia 2007 Bill to incorporate Bank Pertanian with a paid-up capital of RM1 billion to enable it to be competitive with other financial institutions and empower it to help develop agriculture as the third engine of growth under the Ninth Malaysia Plan.[1]
The corporatization will enable the bank to offer competitive and comprehensive financial products and venture into new business activities which the bank is currently unable to undertake due to the limitations of the current BPM act. Among the new products and activities will be agriculture, life and general insurance, credit card service, credit guarantee, investment, capital market, internet banking and current account.
On 19 December 2007, Dewan Negara (the Upper House) approved the bill.[2]
[edit] Products and services
[edit] Personal Banking
Savings/deposit
- AgroSavings
- AgroSavings-i (Islamic)
- Fixed Deposit / Investment
- AgroPerdana
- AgroPerdana-i
Loan/financing
- AgroCash (Wawasan Tani)
- AgroCash-i (Bai' Al-Inah)
- Insani Educational Loan
- Hartani-i
- Ar-Rahnu
Other services
- Insurance
- e-Debit
- Real Time Electronic Transfer of Funds and Securities (RENTAS)
- InterBank GIRO (IBG)
- InterBank Fund Transfer (IBFT)
- Letter of Will (ARB) Sale Service
- Collection Agent For Utility Bills
- Collection Agent For Local Authorities
- Collection Agent For Zakat (Tithe) Payments
- Automated Teller Machine (ATM)& MPES
- Mobile Top-Up
- Remittance-Western Union
- SSPN
- PEYATIM
[edit] Business Banking
Special Government Fund
- Entrepreneur Loans Fund Agriculture (DPUP)
- Tabung Untuk Makanan (3F-Fund For Food)
- Skim Tanaman Semula Kelapa Sawit (TASKS)
- Skim Belia Tani -i / Skim Belia Niaga
Loan / Micro Financing
- Modal Usahawan 1 Malaysia (MUS1M/MUS1M-i)
- Micro Economy Stimulus Package (Micro ESP-i)
Credit Guarantee Scheme
- Syarikat Jaminan Pembiayaan Perniagaan Berhad (SJPP)
- Credit Guarantee Corporation Malaysia Berhad (CGC)
[edit] Agro Banking
Commercial Fund
- Project Loan
- Pinjaman Modal Kerja Kontrak Tani
- Pinjaman Modal Kerja Niaga Tani
- Special Advanced For Fixed Deposit
- Pemfaktoran (Debt Factoring)
[edit] Rebranding
The rebranding of Bank Pertanian Malaysia to Agro Bank was done on 8 April 2008. The move is taken as an initiative to make the bank more competitive by fostering a fresher outlook, and enables it to provide a broader range of services to the market and cater to the whole segment of the agriculture industry.
An external consultant was deployed to carry out the PR and rebranding exercise for Agrobank, penetrate the market and create awareness among the public. This is aligned with the objective of the new rebranding which is to position the bank as a forward looking, modern and progressive enterprise, and at the same time contribute to the growth and sustenance of the agriculture sector in Malaysia.
[edit] Special features
One of the main special features of the bank is the low amount of the entry point to start a personal account and enjoy the privilege of an ATM card. With a minimum of RM20.00 or USD8.20(1 USD = RM3.4), a Malaysian can open up an account. For non-citizen of Malaysia, the minimum amount to open up a personal account will be RM50.00 (USD14.70). Adding up another RM8.00 (USD2.35) allows the customer to own an ATM card with Malaysian Electronic Payment System (MEPS). This feature caters to the needs of millions, especially medium to lower class citizens and foreign workers in Malaysia.
[edit] External links
Official webpage: http://www.agrobank.com.my
