JAKARTA – Bank Kerjasama Rakyat Malaysia Berhad (Bank Rakyat) and PT Bathi Rakyat Abadi today signed a Memorandum of Understanding (MoU) to expand cooperation in Shariah-compliant financial solutions, particularly Ar-Rahnu (Islamic pawn broking) services, as well as to support the growth of the halal-based business sector in Indonesia.
Minister of Entrepreneur Development and Cooperatives, Datuk Ewon Benedick, said the collaboration reflects the close ties and shared aspirations of Malaysia and Indonesia in empowering communities, expanding financial inclusivity, and strengthening the cooperative movement across borders.
“This partnership is a significant step in enhancing Malaysia–Indonesia relations.
“I hope this MoU is not just a ceremonial event, but a catalyst for more initiatives that will benefit customers in Indonesia, Indonesians in Malaysia, and Malaysians in Indonesia,” he said.
He made these remarks at a press conference following the MoU signing ceremony held at Hotel Mulia Senayan in Jakarta on Tuesday (19 August).
Ewon noted that the collaboration aligns with the vision to expand networks of cooperation — not only between governments, but also among cooperatives, banks, and entrepreneurs across the Nusantara region.
“Malaysia and Indonesia are bound by deep similarities in culture, history, and economic aspirations. For decades, the cooperative movements in both countries have served as vehicles for social empowerment, enabling communities to achieve economic independence through collective efforts,” he said.
Ewon also extended his congratulations to both parties and described the MoU as a historic milestone in strengthening Malaysia–Indonesia cooperation and advancing Islamic finance in the region.
Meanwhile, Bank Rakyat Chairman Datuk Mohd Irwan Mohd Mubarak said the strategic partnership demonstrates Bank Rakyat’s ambition to expand its international footprint and strengthen its role in cooperative finance.
“This partnership opens up various opportunities, especially in the Ar-Rahnu service segment. With the expertise of Rakyat Management Services (RMS) Sdn Bhd, Bank Rakyat will provide guidance on Shariah-compliant operations while also supporting the growth of halal businesses.
“This initiative will ensure more secure financial flows and encourage sustainable development,” he said.
He further emphasized Bank Rakyat’s commitment to enhancing cooperative relationships between Malaysia and Indonesia.
