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Agrobank Expands Cashless Services To Empower SMEs In The East Coast



KUALA LUMPUR, 2 JULY 2024 Agrobank continues to intensify efforts to implement digital payment systems and cashless transactions for small and medium-sized enterprises (SMEs) as well as the general public in the states of Kelantan, Pahang, and Terengganu under the Kembara Retail Sector Digitalization Initiative (ReDI) programme. This initiative, organised by the Ministry of Domestic Trade and Cost of Living (KPDN), aims to realise financial inclusivity through a more accessible, secure, and smooth financial ecosystem in collaboration with local authorities (PBT).

The Kembara Retail Sector Digitalization Initiative (ReDI) programme will cover the following locations throughout this week:

i) Raub and Kuala Lipis, Pahang: 2nd July 2024

ii) Gua Musang and Kuala Krai, Kelantan: 3rd July 2024

iii) Kuala Besut, Kg. Raja, Alor Lintang, and Jerteh, Terengganu: 4th July 2024

According to the President/Chief Executive Officer of Agrobank, Dato’ Tengku Ahmad Badli Shah Raja Hussin, “Agrobank is excited to participate in the ReDI programme alongside KPDN and strategic partners in expanding efforts towards digital financial and banking transformation in the East Coast. Through this programme, we can promote Agrobank’s QR convenience, which offers faster, safer, and more efficient financial transactions that will benefit at least 50 entrepreneurs at each location on this tour. We also aim to register 500 new accounts by the end of this programme.”

“Agrobank remains committed to supporting the well-being of entrepreneurs, particularly small and medium-sized enterprises (SMEs) in the agriculture, plantation, and fisheries sectors. Through digital financial transformation, we aim to contribute to the socio-economic upliftment of communities in these three states by driving growth and economic activities, boosting SMEs’ businesses, and consequently improving the standard of living in this region,” he added.

He further mentioned, “So far, we have received positive feedback from the community. By transitioning to cashless transactions, both merchants and consumers can enjoy faster, easier, and safer transactions without needing cash withdrawals at ATMs. It also ensures that sellers and traders can continue to receive payments without the need for cash transactions from customers, eliminating the hassle of providing small change, making business operations more efficient and seamless, besides the opportunity to expand their businesses.”