Tag: BANK RAKYAT

Steven Sim Commends Bank Rakyat’s Support for Johor Entrepreneurs During HPM 2026

JOHOR BAHRU, June 8 -- Minister of Entrepreneur Development and Cooperatives, YB Steven Sim Chee Keong, conducted a working visit to Bank Rakyat at Coronation Square in conjunction with the Hebatkan Perniagaan Malaysia (HPM) 2026 Carnival – Johor Edition, which was held from June 5 to 7. During the visit, Steven Sim expressed his appreciation to Bank Rakyat employees for their dedication and commitment in facilitating business financing assistance for entrepreneurs in Johor. He acknowledged the bank’s important role in supporting the growth of small and medium-sized enterprises (SMEs) and helping local entrepreneurs gain access to financing opportunities needed to expand their businesses. Steven Sim also expressed hope that Bank Rakyat would continue to strengthen its efforts in empowering entrepreneurs, in line with the Ministry of Entrepreneur Development and Cooperatives’ (KUSKOP) mission to enhance and accelerate the growth of Malaysian businesses. The HPM 2026 Carnival serves as a platform to connect entrepreneurs with business development opportunities, financing institutions and government support initiatives aimed at strengthening the nation’s entrepreneurial ecosystem. -- MINUTESMY -- SOURCE: FB Ministry of Entrepreneur and Cooperative Development

JOHOR BAHRU, June 8 — Minister of Entrepreneur Development and Cooperatives, YB Steven Sim Chee Keong, conducted a working visit to Bank Rakyat at Coronation Square in conjunction with the Hebatkan Perniagaan Malaysia (HPM) 2026 Carnival – Johor Edition, which was held from June 5 to 7. During the visit, Steven Sim expressed his appreciation […]

PM Anwar Calls for Wider Outreach of RM5 Billion Micro Financing Initiative

PUTRAJAYA, May 15 — Prime Minister Anwar Ibrahim today chaired a high-level meeting with chief executive officers of several key government-linked financial institutions to strengthen efforts in expanding financing access for small traders and micro entrepreneurs nationwide. The meeting involved top leaders from MARA, TEKUN Nasional, Amanah Ikhtiar Malaysia (AIM), Bank Rakyat, SME Bank, Agrobank and Bank Simpanan Nasional (BSN). The MADANI Government has allocated more than RM5 billion in micro financing facilities this year, expected to benefit over 400,000 micro entrepreneurs across the country. The financing schemes offer loans of up to RM100,000, with selected programmes carrying interest rates as low as three percent annually. Prime Minister Anwar stressed that the initiative would not achieve its intended impact if small traders, hawkers and petty entrepreneurs — especially those operating in markets, night markets and public hotspots — remain unaware of the assistance available to them. “During my visits to various states, I heard firsthand complaints from small business owners who were unaware of the financing and support facilities provided by the government. Many are still struggling on their own because they do not know the proper channels to seek help,” he said. He instructed all agencies and micro-finance institutions to intensify grassroots engagement efforts and proactively reach out to traders, hawkers, gig workers and micro entrepreneurs facing capital constraints. According to the Prime Minister, the dissemination of information must be carried out more aggressively and comprehensively to ensure no eligible group is left behind from receiving government assistance. At the same time, Anwar also called for the financing application process to be simplified, with less burdensome conditions and fairer, more reasonable approval procedures to ensure the facilities truly reach those in need. He expressed hope that the initiative would empower more small-scale traders, night market operators, women entrepreneurs, youths, gig workers, TVET graduates, small contractors, paddy farmers, asnaf groups and micro entrepreneurs to improve their livelihoods and build a better future. “Insha-Allah, this effort will help more Malaysians rise, grow and succeed,” he added. -- MINUTESMY -- SOURCE: FB ANWAR IBRAHIM

PUTRAJAYA, May 15 — Prime Minister Anwar Ibrahim yesterday chaired a high-level meeting with chief executive officers of several key government-linked financial institutions to strengthen efforts in expanding financing access for small traders and micro entrepreneurs nationwide. The meeting involved top leaders from MARA, TEKUN Nasional, Amanah Ikhtiar Malaysia (AIM), Bank Rakyat, SME Bank, Agrobank […]

BNM Fined Bank Rakyat RM1 Million Over Cybersecurity Breaches

KUALA LUMPUR, Jan 26 — Bank Negara has imposed a RM1 million administrative monetary penalty on entity-accent entity-underline inline cursor-pointer align-baseline Bank Kerjasama Rakyat Malaysia Berhad(Bank Rakyat) for failing to meet required cybersecurity and customer data protection standards. The central bank said the penalty, imposed on Jan 20, 2026, followed the discovery of multiple breaches under its Risk Management in Technology Policy Document (RMiT PD) and Management of Customer Information and Permitted Disclosures Policy Document (MCIPD PD). The violations were uncovered after a cybersecurity incident in which an external threat actor gained unauthorised access to the bank’s IT infrastructure. Investigations found that the breaches stemmed from inadequate cybersecurity controls and weaknesses in incident response. BNM said Bank Rakyat failed to implement robust cybersecurity measures and did not sufficiently safeguard customer information as required under regulatory guidelines. The bank has since taken remedial steps to strengthen its cybersecurity framework, including improvements to its information and communication technology (ICT) controls, resources and governance. In determining the penalty, BNM considered several factors, including the severity of the breaches, the bank’s lack of reasonable care in ensuring compliance, its existing control environment, past compliance record, and actions taken after the incident to prevent recurrence. Bank Rakyat paid the RM1 million penalty on Jan 26, 2026. BNM reiterated that all financial institutions must comply with its technology risk management and customer information policies, warning that it will take firm supervisory and enforcement action against any institution that fails to meet regulatory requirements.

KUALA LUMPUR — Bank Negara has imposed a RM1 million administrative monetary penalty on Bank Kerjasama Rakyat Malaysia Berhad(Bank Rakyat) for failing to meet required cybersecurity and customer data protection standards. The central bank said the penalty, imposed on Jan 20, 2026, followed the discovery of multiple breaches under its Risk Management in Technology Policy […]