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Agrobank Elected As A Management Committee And Vice Chairman Of ADFIMI, Committed To Further Strengthen The Nation Food Security

KUALA LUMPUR, 20 JUNE 2022 – Agrobank has been elected as a management committee of the Association of National Development Finance Institutions in Member Countries of the Islamic Development Bank (ADFIMI) as of 2 June 2022 for a three-year term in the city of Shah El Sheikh, Egypt during the 39th ADFIMI General Assembly Meeting and the Bank is committed to work together with ADFIMI to further strengthen the nation’s food security and sustainability.

According to a statement from ADFIMI, President/ Chief Executive Officer of Agrobank, Tengku Ahmad Badli Shah Raja Hussin had also unanimously elected as the Vice Chairman of ADFIMI during the 39th ADFIMI General Assembly Meeting.

Commenting on the election, Tengku Ahmad Badli Shah Raja Hussin said, “On behalf of Agrobank, I am humbled and honoured to have been given the trust from ADFIMI to lead the association. I believe Agrobank has been chosen to be part of ADFIMI due to our longstanding commitment as a leading Development Financial Institution (DFI) in promoting the agriculture activities to further strengthen the nation food sustainability and food security in Malaysia. Agrobank’s continuous effort through our full-chain financing programmes is in line with the National Agro Food Policy, which aimed primarily to enhance the food Self Sufficiency Level (SSL).”

“Food security is increasingly becoming a global concern and therefore, as a DFI that focusses in shaping the future of the agriculture sector in Malaysia, Agrobank plays a vital role to serve the unserved and underserved community as well as to empower and support the entire aspect of the agriculture value chain,” he said. 

He added, “This is to ensure the industry continues to thrive and bring a positive impact on the real economy, by strengthening the nation food security, in line with the principles of value-based intermediation (VBI) embraced by Agrobank.”

“As a responsible financial institution, while ensuring the synergy of strengthening food security in Malaysia together with the Ministry of Agriculture and Food Industry (MAFI) is important, our role remains steadfast to advancing responsible financial inclusion,” said Tengku Ahmad Badli Shah.

“On top of this, Agrobank continuously encourages our clients who are involved in agricultural farming such as food crops, livestock, and aquaculture to obtain good practices certifications.  With such certification, agropreneurs would not only be able to increase their productivity but also improve quality whilst preserving the environment,” he added.

Commenting further, Tengku Ahmad Badli Shah also aims to deepen economic cooperation and extend trade financing and investment support to agropreneurs in Malaysia by connecting them to the relevant players among the members banks of ADFIMI in their respective regions.

“We will also facilitate bilateral trade in goods and services to enhance the growth opportunities for our agropreneurs and catalyse greater trade and investment flows between the regions especially in Malaysia, towards building regional economic resilience and sustainable development.”

“I believe this election will also bolster cooperation in various fields including halal industry, food security and Islamic banking, which will benefit industry players from end to end as well as provide opportunities for them to explore the use of latest technology and best practices to address new challenges especially in the agriculture and food industries.”

“Therefore, it is hoped that every member of this Association may work together to enhance the access of financing for DFIs globally through developing beneficial collaborations, providing education and advisory to many players within the ecosystem,” he commented.

ADFIMI is an Association of National Development Finance Institutions in Member Countries of the Islamic Development Bank (IDB) which started its operations in September 1987 in Istanbul, Turkey.  The objective of its establishment is to enhance the effectiveness of DFIs and banks by providing the member of DFIs the opportunity to work together and successfully develop expertise, exchange mutually beneficial ideas and experiences.