Agro Farah-i: Agrobank Aims to Encourage More Women to Adopt Smart Financial Skills Through Savings

KUALA LUMPUR – In conjunction with International Women’s Day on 8 March, Agrobank today announced a new savings product, exclusively for all women aged 18 years old and above called Agro Farah-i.

The launch of Agro Farah-i is part of Agrobank’s continuous commitment to support women’s empowerment and foster an appreciation towards women in Malaysia.  Farah which carries the meaning of happiness in Arabic was chosen as the name of this product to symbolise charismatic and visionary women, smart at managing finances which leads to happiness to oneself, family and the community.

According to Dato’ Mustapha Buang, Chairman of Agrobank, during the e-launch of Agro Farah-i held virtually on Facebook LIVE Agrobank this afternoon, the uniqueness of this product is the element of hibah shared for each account that has been tagged to Agro Farah-i account either husband or child’s account.

“This unique feature encourages women to save more and be rewarded with shared hibah. With a minimum deposit of RM50, it also allows women to start small and get more rewards with more savings in the future.”

“We believe by encourage women to adopt smart financial skills through savings, it will provide them with one of the most powerful tools to build better lives for themselves, their families, and their communities in the long run as this is the key pillars in sound financial management”, said Mustapha.

He added, “Agro Farah-i has been introduced in July 2020 and as at 15 February 2021, a total of 1,870 account openings have been recorded with total savings value amounting RM2,971,100.78 million.  This is a testament of encouraging response even though this product has not been officially launched”.

In line with its mandate to empower unserved and underserved community, Agrobank will continue its commitment to offer a wide range of products and services focusing on this segmented group consisting of women, the elderly, persons with disabilities (PWD), youth and others.

For more information on Agro Farah-i, please visit Agrobank website at www.agrobank.com.my or contact our customer service at 1300 88 2476 or visit Agrobank branches.

Note: The launching of Agro Farah-i can be viewed at Agrobank FB Live.