KUALA LUMPUR, March 8 (Bernama) -- In conjunction with International Women’s Day on 8 March, Agrobank today announced a new savings product, exclusively for all women aged 18 years old and above called Agro Farah-i.
 
The launch of Agro Farah-i is part of Agrobank’s continuous commitment to support women’s empowerment and foster an appreciation towards women in Malaysia.  Farah which carries the meaning of happiness in Arabic was chosen as the name of this product to symbolise charismatic and visionary women, smart at managing finances which leads to happiness to oneself, family and the community.
 
According to Dato’ Mustapha Buang, Chairman of Agrobank, during the e-launch of Agro Farah-i held virtually on Facebook LIVE Agrobank this afternoon, the uniqueness of this product is the element of hibah shared for each account that has been tagged to Agro Farah-i account either husband or child’s account.
 
“This unique feature encourages women to save more and be rewarded with shared hibah. With a minimum deposit of RM50, it also allows women to start small and get more rewards with more savings in the future.”
 
“We believe by encourage women to adopt smart financial skills through savings, it will provide them with one of the most powerful tools to build better lives for themselves, their families, and their communities in the long run as this is the key pillars in sound financial management”, said Mustapha.

He added, “Agro Farah-i has been introduced in July 2020 and as at 15 February 2021, a total of 1,870 account openings have been recorded with total savings value amounting RM2,971,100.78 million.  This is a testament of encouraging response even though this product has not been officially launched”.
 
In line with its mandate to empower unserved and underserved community, Agrobank will continue its commitment to offer a wide range of products and services focusing on this segmented group consisting of women, the elderly, persons with disabilities (PWD), youth and others.
 
For more information on Agro Farah-i, please visit Agrobank website at www.agrobank.com.my or contact our customer service at 1300 88 2476 or visit Agrobank branches. 


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 Syed Johari
Senior Executive, Public Relations
Strategic Communications Department
Agrobank
Tel :  03-2731 1652 / +6012-310 1766
Email : syameen@agrobank.com.my
 
--BERNAMA