Agrobank on track to be first regional Islamic agriculture bank
KUALA LUMPUR: AGROBANK is on track to become probably the first fully-fledged Islamic agriculture bank in the region by 2015.
Chief executive officer Wan Mohd Fadzmi Wan Othman said the bank, which has been corporatised since 2008, has embarked on a restructuring exercise within the organisation.
"Our focus will still remain in the agriculture sector. We're in the midst of a `find and shine' process to tap our employees' talents and capabilities,” he said, when met at the bank's Hari Raya open house celebrations yesterday.
Agrobank has set up eight regions, combining several states under one region. Each region will also have a business centre which will help expedite loans and other services.
The bank has 175 retail centres in the country, consisting of 125 branches, apart from kiosks and agro centres.
Wan Mohd Fadzmi explained that the restructuring exercise is to strategise the financial institution towards the government's Economic Transformation Programme (ETP).
"We are also collaborating with the East Coast Economic Corridor, Northern Corridor Economic Region, Padiberas Nasional Bhd and the Federal Agriculture Marketing Authority (FAMA) in our capacity as a development financial institution,” he said.
Islamic banking transactions are available currently under its Islamic banking window since its corporatisation.
Under its personal banking portfolio, Agrobank offers five types of loan/financing namely AgroCash (Wawasan Tani), AgroCash-i (Bai' Al-Inah), INSANI Educational Loan, Hartani-i and Ar-Rahn.
For deposits, besides the choice of its conventional banking, under the Islamic banking category, the bank offers AgroSavings-i with AgroMuda-i and AgroTani-i.