Agrobank and Persatuan Orang Kota Bharu Ink Strategic Alliance
KUALA LUMPUR– Agrobanksigned a Memorandum of Understanding (MOU) with Persatuan Orang Kota Bharu (POKB) today witnessed by YB.Datuk Hj. Ahmad bin Hj. Maslan, Deputy Minister of Finance 1.
The signing of the MoU higlights POKBs intention to register its members for Agrobanks Takaful Kasih insurance coverage. Through this MoU, 2500 POKB members will benefit from the insurance scheme provided by Agrobank. This collaboration will also see both organisations working together to identify market opportunities and to promote suitable products to POKB members. Moving forward, Agrobank will also collaborate with the association in assisting its members in entrepreneurship development programme.
Signing on behalf of Agrobank was its President/ Chief Executive Officer Y.H Dato Wan Mohd Fadzmi Wan Othman. POKB was represented by its President, YBhg Datuk Sheikh Mohd Dusuki. Also present to witness the signing were senior management of Agrobank and members of POKB.
According to YH Dato Wan Mohd Fadzmi, Agrobank was pleased to be in partnership with POKB and provide the facilities for its members and believed the scheme was able to meet the requirements and coverage needed by the members. With a minimum annual contribution of RM10, the member will be covered for a sum of RM10,000 with the occurrence of death and permanent disability caused by accident, he added.
YBhg Datuk Hj. Sheikh Ahmad Dusuki Sheikh Mohamad, President of POKB said that apart from the insurance plan, POKB wished to explore entrepreneurship development opportunities for its members and Agrobank would be the bank to assist its members through the financing products available.
The partnership was indeed an exciting opportunities for Agrobank as it enhanced Agrobanks capability in servicing its customer. Aptly known as the Agriculture bank among the agriculture community, Agrobank has augmented its array of Shariah compliant products and services to support the needs of its clients in various segments and its insurance coverage plan is one of the consumer products that gains popularity among the unserved and underserved communities. Takaful Kasih was introduced in 2007 by Agrobank with 3 plans namely Plan 1, 2 and 3 with annual contribution of RM10, RM20 & RM50 respectively. As at September 2014, Agrobank already achieved RM1,866,918.00 profit from sales of this product.