Bank Rakyat expands financial facilities to promote sustainability

06 Jan 2023 11:53am
Bank Rakyat's Sustainability initiative launch ceremony.
Bank Rakyat's Sustainability initiative launch ceremony.

Bank Rakyat in collaboration with solar panel suppliers are now expanding its offer of Personal Financing-i for purchase and installation of solar panel systems. Customers can also purchase solar panels through Bank Rakyat Credit Card-i.

Bank Rakyat chief executive officer Dr Mohammad Hanis Osman said, "This initiative is an effort to help drive the country's transition to a cleaner energy economy, following Blueprint Sustainability aspiration formulated through the strategic plan of Bank Rakyat 2025 (BR25).”

According to Hanis, Bank Rakyat cooperates with five supplier companies, namely Voltago Solar, Green Energy Generation, UZMA Enviroenergy, Suria Infiniti and Voltek Energy to facilitate the process of purchasing and installing solar panel systems.

"Technology and energy resource are closely interconnected elements in realizing the preservation and conservation agenda of environmental sustainability.

Therefore, the effort to create Shariah-compliant financial facilities is the best initiative to encourage green energy usage in the community," he mentioned during Bank Rakyat's Sustainability Initiative Launching Ceremony.

Also present were Sustainable Energy Development Authority (SEDA) chief executive officer of Malaysia, Datuk Hamzah Hussin, and Head of Malaysia SEDA Strategy Officer Mohammad Nazri Mizayauddin.

Moreover, Bank Rakyat also offers Vehicle Financing-i for the purchase of vehicles with hybrid electric, plug-in hybrid electric, electric vehicle battery-based, and fuel cell electric features.

Additionally, Bank Rakyat also provides Housing Financing-i for the purchase of properties or residences recognized with green building status from the Green Building Index (GBI) or GreenRe which is one of them the main green accreditation agency in Malaysia.

Meanwhile, Hanis said, "In the next five years, Bank Rakyat will continue to focus to incorporate core elements of sustainability in economic, social, and governance (ESG) of the bank business operations including redirecting the business practices in a direction that drives profit and improve the status of the community and preserve the environment.”

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