KUALA LUMPUR, Aug 19 (Bernama) — Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat) and PT Bathi Rakyat Abadi today signed a Memorandum of Understanding (MoU) to collaborate on expanding Shariah-compliant financial solutions, namely Ar-Rahnu (Islamic pawn broking) services, and support the growth of halal-based businesses in Indonesia.
Minister of Entrepreneur and Cooperatives Development Datuk Ewon Benedick said the partnership demonstrates the shared aspiration of Malaysia and Indonesia to empower communities, broaden financial inclusion, and strengthen the cooperative movement beyond national borders.
“This collaboration between Bank Rakyat and Bathi Rakyat Abadi is a meaningful step towards strengthening Malaysia and Indonesia’s relations through the cooperative movement,” he said In a statement today.
“It reflects our shared vision of building inclusive financial systems that empower people, encourage responsible development and create opportunities that benefit communities in both countries,” he added.
Meanwhile, Bank Rakyat chairman Datuk Mohd Irwan Mohd Mubarak said that this strategic alliance underscores the bank’s ambition to expand its international footprint and reinforce its leadership in cooperative finance.
“This collaboration opens up a wide range of opportunities, particularly in Ar-Rahnu. Bank Rakyat will provide guidance on Shariah-compliant operations, while at the same time support the growth of halal-based businesses in the republic,” he said.
He noted that the bank remains committed to strengthening its international presence and driving sustainable, Shariah-compliant solutions that uplift communities, empower enterprises, and deepen cooperative ties between Malaysia and Indonesia.
— BERNAMA
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