KUALA LUMPUR, Sept 23 (Bernama) -- Agrobank has approved Special Relief Facility (SRF) and Agrofood Facility (AF) aids through Prihatin Rakyat Economic Stimulus Package (PRIHATIN) amounting RM567 million to 1,411 small and medium-sized enterprises (SMEs).
 
According to Khadijah Iskandar, Covering  President / Chief Executive Officer of Agrobank, as at 31^st August 2020, 1,005 SRF applications amounting RM409 million and 406 AF applications amounting RM158 million has been approved by Bank Negara Malaysia (BNM) to SMEs via Agrobank to assist rebuilding their businesses.
 
“Agrobank is committed in helping SME entrepreneurs.  It has been our DNA in every effort of ours to improve the performance of agriculture sector and micro food industries while at the same time helping to develop SME entrepreneurs.  In addition, the injection of funds is expected to assist SME entrepreneurs and allowing them to redesign their business strategic plan especially in this difficult period,” said Khadijah.   
 
Khadijah added, “To ensure the continuity of business operations, job retention and to support economic growth during this challenging time, Agrobank will continue our effort to ensure our entrepreneurs get the essential assistance.”   
 
SRF and AF are part of BNM’s RM10 billion and RM1 billion funds respectively aimed to ease cash flow of SMEs due to impact of MCO due to COVID-19 pandemic. 

ABOUT AGROBANK

Agrobank is a leader in agriculture financing and values-based banking based (VBI)* in Malaysia. Established in 1969, Agrobank is actively involved in charting the growth and development of Malaysia’s agriculture industry by offering shariah compliant products and solutions across various customer segments including corporate, commercial, consumer, trade finance and micro financing customers. Agrobank is a full-fledged Islamic bank since 1st July 2015.
 
As a market driven, customer-centric DFI (Development Financial Institution) with a primary focus on strengthening the agriculture sector in Malaysia, Agrobank strikes an equal balance to its developmental and commercial roles to benefit the agriculture sector. Agrobank provides a comprehensive repertoire of financing solutions for the agriculture community; that includes upstream activities related to primary food and commodities-based agriculture activities to downstream activities such as processing, marketing and distribution of agricultural products.
 
Agrobank also offers retail banking financing solutions to improve the well-being of the agriculture community. This is done through its network of 192 customer touch points including 138 branches, 1 agro banking, 1 virtual banking, 10 commercial financing centre, 34 kiosk, 8 agro corners & agro point.  
 
In 2019, Agrobank celebrates its golden jubilee Anniversary, as it marks 50 years of its proud establishment developing the agro industry.  
 
www.agrobank.com.my

* VBI or value-based intermediation is an initiative by Bank Negara Malaysia (BNM) which aims to improve the products and services offered by Islamic financial institutions towards a better facilitation of entrepreneurship, community well-being, sustainable environment and economic growth, without compromising on shareholders’ returns

Issued by Strategic Communications Department, Agrobank 

SOURCE: Agrobank​

FOR MORE INFORMATION, PLEASE CONTACT:  
Name: Shahreen Rahim
Section Head of Public Relations,
Strategic Communications Department, Agrobank
Tel: 03-2731 1660 (ext 1660) / +6012-943 6217
Email: shahreen.rahim@agrobank.com.my
 
Name: Syarifah Syameen
Senior Executive, Public Relations,
Strategic Communications Department, Agrobank
Tel: 03-2731 1652 / +6012-310 1766
Email: syameen@agrobank.com.my
 
--BERNAMA