Financing for fishermen – Agrobank

Business Financial Markets

As a strategic partner to the agro community, Agrobank takes a step further in providing housing financing to fishermen to own affordable homes under the Program Kediaman Mampu Milik-i (PKMM-i) for the “Projek Penempatan Semula Nelayan” (PPSN) in Bunut Rendang, Kuantan. The PPSN is an initiative by the Pahang State Government and Lembaga Kemajuan Ikan Malaysia (LKIM) with Agrobank as the main financier for the project.

fishermen - agrobank

The collaboration aims at helping the fishermen in the area to own a comfortable home while improving the socio-economic status and welfare of the local fishermen communities in Pahang as a whole.
 
The collaboration between Agrobank, the Pahang State Government and LKIM is a testament of a strong support and confidence by the financial institutions on the national housing agenda – initiated by the state government and supported by LKIM.
 
Ahmad Shahril Mohd Shariff, Chief Business Officer of Agrobank said, “We at Agrobank are very pleased to be collaborating with the Pahang State Government and LKIM. As the main financier to the PPSN project in Bunut Rendang, Agrobank is offering financing up to 105%, which involves RM36,750 for a residential unit and RM2,756,250 for total financing of 75 residential units in this project.”
 
“The financing offered by Agrobank through PKMM-i programme indirectly opens up opportunities for more fishermen who are earning less than RM4,000 a month to own a home.”
 
“This participation is in line with our goal at Agrobank to focus on programmes which are aimed at supporting the unserved and underserved communities and further improve the socio-economic status of B40 groups,” he added.
 
A ceremony organised by the state government was held this morning to officially hand over the keys to the new owners of PPSN residential units.
 
The keys were handed over by the Menteri Besar of Pahang, Dato’ Sri Haji Wan Rosdy Wan Ismail and witnessed by the Pahang State Agriculture, Agro-based Industries and Biotechnology Committee Chairman, Dato’ Sri Ir. Haji Mohd. Soffi Tan Sri Abd. Razak and Chief Business Officer of Agrobank, Ahmad Shahril Mohd Shariff.
 
The residential area has also been equipped with other infrastructure facilities as the surau, a fishing pier, TNB substation, water treatment and drainage system, water tank, and landscape garden.
                                              
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 touchpoints including 138 branches, 1 agro banking, 1 virtual banking, 10 commercial financing centre, 34 kiosk, 8 agro corners & agro point.  
 
In 2019, Agrobank celebrated its golden jubilee Anniversary, as it marked 50 years of its proud establishment developing the agro-industry.  


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