Bank Rakyat Malaysia

Key details

• Parent: branches

Overview

Bank Rakyat Malaysia is Malaysian Islamic cooperative commercial bank + Government of Malaysia + Malaysian cooperative shareholders ~100%+ controlling + Malaysia's largest Islamic cooperative commercial bank by branches + founded Sep 28 1954 in Kuala Lumpur Malaysia as Bank Agong Persatuan-Persatuan Kerjasama as Malaysian cooperative apex bank then 2002 Islamic conversion [1, my-cro].

History

Sep 28 1954 — Bank Agong Persatuan-Persatuan Kerjasama founded in Kuala Lumpur Malaysia as Malaysian cooperative apex bank under British Malaya cooperative banking framework distinctive Malaysian cooperative banking heritage.

1973 — Bank Kerjasama Rakyat Malaysia Berhad Bank Rakyat rebrand consolidating Malaysian cooperative banking sector.

2002 — Islamic conversion from conventional commercial to Islamic commercial banking + Bank Rakyat becoming Malaysia's largest Islamic cooperative commercial bank by branches distinctive Malaysian Islamic banking conversion.

2014 — iRakyat Mobile banking app launch.

Ownership & operator

Operating entity: Bank Kerjasama Rakyat Malaysia Berhad Bank Rakyat (Malaysian Islamic cooperative commercial bank).

Major shareholders: Government of Malaysia + Malaysian cooperative shareholders ~100%+ controlling.

Regulators: Bank Negara Malaysia BNM + Suruhanjaya Koperasi Malaysia SKM cooperative regulator.

Technical integration

iRakyat Mobile app (iOS + Android) + bankrakyat.com.my online + Bank Rakyat branch network across Malaysia + Bank Rakyat Visa + Mastercard cards (Islamic-compliant); DuitNow QR (Malaysian national QR payment scheme) + Malaysian Ringgit MYR domestic transfers.

Implementations & partners

Major Malaysian banking + payments competitors: [[bank-islam-malaysia]] (Bank Islam Malaysia Berhad; KLSE: 5258; Malaysia's first Islamic commercial bank) + [[maybank-malaysia]] (Maybank; KLSE: 1155) + [[cimb-bank]] (CIMB Bank; KLSE: 1023) + [[public-bank]] (Public Bank Berhad; KLSE: 1295) + [[hong-leong-bank]] (Hong Leong Bank; KLSE: 5819) + duitnow-qr (DuitNow QR; Malaysian national QR payment scheme).

Regulators: Bank Negara Malaysia BNM + Suruhanjaya Koperasi Malaysia SKM cooperative regulator.

Status

Active, Malaysian Islamic cooperative commercial bank + Government of Malaysia + Malaysian cooperative shareholders ~100%+ controlling + Malaysia's largest Islamic cooperative commercial bank by branches + founded Sep 28 1954 in Kuala Lumpur Malaysia as Bank Agong Persatuan-Persatuan Kerjasama as Malaysian cooperative apex bank then 2002 Islamic conversion [1, 2].

Sources

• 1 Bank Rakyat — official
• 2 Bank Rakyat — Wikipedia
• my-cro In-corpus: reports/countries/MY-malaysia.md

Source

Biography extracted from bank-rakyat.md. See matrix.md for standards-support matrix if present.