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Launching of Banking facility lauded

10 May 2024


PAPAR: The Minister of Entrepreneur Development and Cooperatives (MEDAC) Datuk Ewon Benedick officiated the First Co-opBank (CBP) and the Cooperative Socialisation Programme (MASKOP) here today.

Speaking to reporters after the event he said the establishment of CBP was opportune for the residents of Papar and the surrounding area as it accord them with banking facilities near them.

He said the establishment of the bank allowed people to know more about such cooperatives and influence them to be involved in such activities, enabling it to be a culture among them.

"We encourage the people in Papar to be part of the cooperative as it pays competitive dividends," he said, adding that with more members and interest shown in the cooperative, more branches could be established.

Stressing that although he left it to the CBP to go towards that direction, he also expressed his hope for them to establish their bank in rural areas such as Keningau.

"It is one of the bigger townships in Sabah," he said.

He also launched the Mobile Bank CBP, introduced for the first time in the state of Sabah.

He lauded this effort which is the first in Sabah.

Meanwhile, Minister of Domestic Trade and Consumer Affairs, Datuk Armizan Mohd Ali, who is also the Member of Parliament for Papar said he appreciated the establishment of the bank in Papar as it allowed the residents there easy access to the facilities.

He also hoped that it will be a catalyst of growth and development in that area.

CBP is situated in the bustling Parkland area of Benoni, attracting significant crowds and poised to become a vibrant hub of activities, particularly with the ongoing construction of new commercial buildings nearby.


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