85,000 Residents of Ranau To Enjoy Bank Rakyat Banking Services

19 November 2023

By Nabalu News Journalist

RANAU: Bank Rakyat remains committed to ensuring that every segment of society has access to financial services with the opening of the new Rakyat Xcess and Ar-Rahnu X'Change branches, benefiting 85,000 residents in the Ranau District, Sabah.

The inauguration ceremony of the new branches was officiated by the Minister of Entrepreneur Development and Cooperatives, Datuk Ewon Benedick.

In his opening speech, Ewon stated that Rakyat Xcess offers a range of banking facilities accessible to various segments of society, such as opening savings accounts. Meanwhile, Ar-Rahnu X'Change provides Shariah-compliant financing based on gold collateral, specifically the easy and fast Gadai-i Financing Scheme.

He added that this initiative to expand the banking network is highly aligned with the Ministry's continuous commitment to fulfill its supported mandate of assisting the development of the unserved and underserved groups, particularly in rural areas, by providing various financial and banking solutions that suit the needs of individuals and businesses.

"The opening of Rakyat Xcess and Ar-Rahnu X'Change in Ranau, which is known for its tourism activities, is also in line with the government's goal of further promoting economic activities and entrepreneurship in the state of Sabah. This initiative is also highly aligned with the concept of Malaysia Madani to provide a more inclusive financial ecosystem," added Ewon.

Meanwhile, the Acting Chairman of Bank Rakyat, Datuk Mohd Irwan Mohd Mubarak, stated that Bank Rakyat always takes proactive steps to strengthen its business network in every corner of the country, whether in urban or rural areas, for the overall well-being of the community, rather than solely focusing on profit and business operations.

"I also believe that the branch, equipped with facilities and services including financing products, savings, and various other services, will benefit over 85,000 residents of the Ranau district and its surrounding areas, especially in conducting easy, secure, and fast banking transactions," he said.

During the same event, Bank Rakyat presented the prize for the Rizq Plus Investment Account draw, amounting to RM100,000, to the winner of the October 2023 draw in conjunction with Bank Rakyat's 69th anniversary.

Bank Rakyat now offers a total of RM5.8 million in prizes, with the main prize amounting to RM1 million. The draw for these latest prizes started in early August and will continue until January 2025. So far, the total investment amount is RM139 million, involving over 24,000 account holders.

Additionally, the deadline for the draw of the RM1 million prize will be held in January 2024. Therefore, Bank Rakyat urges the public to subscribe to and invest through the Rizq Plus Investment Account before December 31 to have the opportunity to become a millionaire.

Bank Rakyat also presented contributions for the Kasih Wira Negara Programme to three families of Royal Malaysia Police officers who sacrificed their lives in the Lahad Datu incident in Sabah in 2013, as recognition of their bravery and sacrifice in defending the country.

"Although a decade has passed since this incident, we should never forget their sacrifice. Hopefully, this contribution can alleviate their burden and provide support and happiness to the families."

In addition, Bank Rakyat has also carried out beautification activities, including painting and repairing bus stops and pedestrian walkways, under the BaktiRAKYAT voluntary programme on October 28, 2023, involving 38 Bank Rakyat employees in collaboration with the Ranau District Council.

This initiative aligns with the aspirations of the Sustainability Action Framework formulated through Bank Rakyat's 2025 Strategic Plan (BR25) to enhance the value of cooperation, foster a sense of teamwork, eradicate self-centeredness, and promote awareness of the community's cultural environment.