KUALA LUMPUR, Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat) has signed a Memorandum of Understanding (MoU) with PT Bathi Rakyat Abadi to expand Shariah-compliant financial solutions—particularly Ar-Rahnu (Islamic pawn broking)—and to support the growth of halal-based businesses in Indonesia.
Entrepreneur and Cooperatives Development Minister Datuk Ewon Benedick said the partnership reflects the shared commitment of Malaysia and Indonesia to empower communities, enhance financial inclusion, and strengthen the cooperative movement across borders.
“This collaboration is a meaningful step towards building inclusive financial systems that encourage responsible development and create opportunities for communities in both nations,” he said.
Bank Rakyat chairman Datuk Mohd Irwan Mohd Mubarak said the alliance highlights the bank’s ambition to expand internationally and reinforce its role in cooperative finance.
“This partnership opens up significant opportunities, especially in Ar-Rahnu services. Bank Rakyat will share its expertise in Shariah-compliant operations while supporting the halal business sector in Indonesia,” he said, adding that the bank remains committed to strengthening its regional presence and promoting sustainable solutions that uplift communities and enterprises alike.
