^{Tengku Ahmad Badli Shah Raja Hussin, President/Chief Executive Officer of Agrobank} 


KUALA LUMPUR, June 24 (Bernama) -- Agrobank welcomes the mandate by the Government to support the nation’s agriculture and food industry in strengthening the food production sector through the Keluarga Malaysia Agrofood Financing Fund (DPAKM), announced by the Minister of Agriculture and Food Industry, Datuk Seri Dr Ronald Kiandee on Wednesday.
 
The Cabinet meeting on 22 June 2022 agreed on the implementation of the DPAKM programme under Agrobank with a total allocation of RM800 million fund, to ensure the continuity of national food production activities involving eight (8) major food commodities namely chicken, beef/buffalo, eggs, milk fresh, fish, fruit, vegetables, and rice.
 
The DPAKM programme offers special financing facility, which is to be distributed accordingly, where RM300 million is allocated for poultry, RM200 million for ruminant (cattle and goats), RM100 million for vegetable crops. The DPAKM programme also offers financing for entrepreneurs with an allocation of RM100 million for micro-entrepreneurs, while new micro-entrepreneurs and young entrepreneurs each to receive a financing distribution of RM50 million.
 
Elaborating further on the announcement, Tengku Ahmad Badli Shah Raja Hussin, President/Chief Executive Officer of Agrobank said, the DPAKM programme is a financing facility offered to Small and Medium Enterprise (SME) entrepreneurs with a total financing of up to RM5 million for entrepreneurs and producers of poultry, ruminant, and vegetable crops. 
 
“This programme offers a competitive financing period of up to 8.5 years at a profit rate of as low as 3%. In the first six (6) months, Agrobank will automatically grant a moratorium at a profit rate of 0%. Customers will start being charged a profit rate as low as 3% only in the 7th month of financing and onwards,” he said this in a statement here today.
   
He added that Agrobank is confident that the allocated fund through the DPAKM programme, will be distributed accordingly to the needs of the main food industry players, and will be able to meet current needs and gradually strengthen the country's food security position.

“Agrobank is pleased to continuously be entrusted by the Government, to lead the nation’s agricultural sector through our Shariah-compliant financing products and financial solutions to meet the needs of the agricultural communities including those carrying out upstream activities and up to downstream activities. Agrobank's ongoing efforts through our full-chain financing programs are in line with the National Agro-Food Policy which aims to increase the Self-sufficiency Level (SSL) of food," he added further.
 
Tengku Ahmad Badli Shah said, Agrobank is very optimistic in supporting the National Agro - Food Policy, "We are moving in-line with the mandate and planning of the Government and Ministry of Agriculture and Food Industry (MAFI) in particular, to develop several strategic plans as a solution to the issue of food security crisis in the country.”
 
Speaking on how Agrobank's plans in dealing with the current issue, he said, Agrobank in 2021 launched its Strategic Business Plan (SBP) 2021-2025 which also covers the short-term and long-term strategic development of MAFI for the agro-food sector as stipulated by the latest National Agro-Food Policy.
 
“Our short-term efforts are focused in supporting the country's food security agenda by directly providing financing support in strategic agricultural sub-sectors such as livestock, poultry, and vegetable enterprises. While in its long-term efforts, the bank is committed in uplifting financial literacy knowledge among the unserved and the underserved communities through free monitoring, including programs on business knowledge and financial management,” he said.
  
He said, Agrobank has always and will continue to support the strategic objectives formulated under the national agricultural development policies, which drive the strategic direction of agrofood and agricultural commodity development, while providing 'Beyond Banking' services to its customers in the agricultural sector.
 
For more information on the DPAKM Program, please visit the Agrobank website at www.agrobank.com.my or call our customer service center at 1300 88 2476 or visit the nearest Agrobank branch.

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 micro, small, medium and large retail and business 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 207 touchpoints which include 140 branches, 32 kiosks, 19 commercial centers and 16 other touchpoints.   
 
In 2019, Agrobank celebrated 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 

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Issued by Corporate Communications Department, Agrobank 

Source: Agrobank 

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Shahreen Rahim 
Section Head of Public Relations, Corporate Communications Department, Agrobank 
Tel: 03-2731 1660 (ext 1660) / +6012-943 6217
Email: shahreen.rahim@agrobank.com.my
 
Name: Rasheffa Rashid 
Executive, Public Relations, Corporate Communications Department, Agrobank
Tel: 03-2731 1660 (ext 1650) / +6019-272 9907 
Email: rasheffa@agrobank.com.my
 
--BERNAMA