The commitment of Bank Rakyat to become a sustainable bank is not to put profit before progress but to drive profitability by focusing on responsible finance.
KUALA LUMPUR: Bank Rakyat Malaysia Bhd (Bank Rakyat) has identified six blueprints as the key to its new journey in realising ‘Bank Rakyat 2025’ (BR25) aspirations to become a sustainable bank, said its chairman Datuk Noripah Kamso.
Datuk Noripah Kamso
The blueprints include digitalisation, great customer experience, human capital, small and medium enterprises value creation centre, sustainability dan Shariah leadership.
The BR25 aims to integrate prosperity with digitalisation, where the vision, mission and its new identity would be realised through these six blueprints.
According to her, the commitment of Bank Rakyat to become a sustainable bank is not to put profit before progress but to drive profitability by focusing on responsible finance.
“BR25 is a long-term plan with a defined destination intended to make Bank Rakyat relevant in the face of Banking 4.0, ‘banking everywhere but never at a bank’,” she said during the launching of Bank Rakyat’s new journey here last night.
The event was officiated by Entrepreneur Development Minister Datuk Seri Mohd Redzuan Yusof.
Noripah explained that the plan took into account the bank’s diverse financial landscape by integrating five cores, namely clients and members, digitalisation and analytics, collaborative and collaboration, employees and sustainability.
The main focus of Bank Rakyat’s new journey according to her, was to prepare the bank for challenges in the transformation and landscape of the Islamic finance which needed to be integrated into the global financial mainstream.
In integrating the bank’s sustainability plan, its new vision “for the community, the nation and the planet” also reflected Bank Rakyat’s commitment into serving the community, helping the nation progress and protecting the planet, she said.
Meanwhile, the minister in his speech said the initiative integrates sustainability into the bank’s business strategy in line with the government’s 2030 Shared Prosperity Vision.
“Our aim is to develop an efficient, progressive and comprehensive Islamic banking system that will contribute to the entire process of growth and development for communities, nations and the planet,” he said.
In order to achieve sustainability, many efforts have to be made by various parties to support it, including in terms of the law, regulation and public policy, he said adding that the effort also requires a massive change in the attitude, behaviour including among the public and institutions. — Bernama