KUCHING: Koperasi Co-opbank Persatuan Malaysia Bhd has reached Sarawak’s shores with the opening of its branch here, slated for providing another financing option for the local business community to start up new ventures or expand existing ones.
Chief Minister Datuk Patinggi Tan Sri Adenan Satem said the bank would complement existing institutions offering financing and business loans such as Bank Rakyat, SME Corp Malaysia, SME Bank, Majlis Amanah Rakyat (Mara), Sarawak Economic Development Corporation (SEDC), Bumiputera Agenda Steering Unit (Teraju) and National Entrepreneur Group Economic Fund (Tekun Nasional).
He added that the state highly welcomed the expansion of the cooperative bank here, in hope that this would further help local entrepreneurs obtain capital through various facilities on offer.
The city’s branch is the 17th nationwide following the ones in Kuala Lumpur, Putrajaya, Shah Alam in Selangor, as well as Butterworth, Kepala Batas, Nibong Tebal and Bayan Baru in Penang, Sungai Petani (Kedah), Taiping, Alor Setar and Ipoh (Perak), Kangar (Perlis), Kota Bharu (Kelantan), Kuantan (Pahang), Ayer Keroh (Melaka) and Johor Bahru (Johor).
The bank’s attractive products include its Al-Wadiah (guaranteed custody on savings and current accounts) scheme, Ar-Rahnu (pawn broking) scheme, investment deposit certificates, as well as corporate and cooperative deposits.