Agrobank, Mydin cooperate in Kelantan

AGROBANK establish a strategic partnership with Mydin Mohamed Holdings Berhad (Mydin) to focus development and boost wholesale activities in the state through working capital financing facilities of RM50,000 to RM500,000.

Agrobank’s Chief Executive Officer, Tengku Datuk Ahmad Badli Shah Raja Hussin said, through the strategic collaboration, the approved financing will be given in rounds with a minimum amount of RM50,000 to Mydin wholesalers.

“It involves a financing period of up to one year with a competitive profit rate. The collaboration between these two signed entities is to provide sharia-compliant short-term revolving financing facilities and banking services to suppliers in Mydin Kelantan who carry out activities along the agro-food value chain.

“This effort will help improve the socio-economic standard and the development of the agriculture and agro-food sector in the state,” he said at the signing ceremony between Agrobank and Mydin on Friday.

At the event, Mydin was represented by its Managing Director, Datuk Dr Ameer Ali Mydin.

According to him, this strategic effort is a platform to drive the success of agropreneurs as well as realize Agrobank’s goals for strong, progressive and efficient agricultural development.

He said, this is to ensure the well-being of the agricultural community, economic stability and the integrity of the country’s food security in the long term.

Tengku Ahmad Badli Shah said, it is in line with Agrobank’s responsibility ‘beyond banking’ to offer customer-oriented products and services aimed at helping entrepreneurs towards sustainable economic growth.

“Thus, we welcome Mydin Kelantan wholesalers to get more information on the working capital financing offered,” he said.

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