Bank Rakyat appoints Zulkiflee MD/President

KUALA LUMPUR: Bank Rakyat has appointed Datuk Zulkiflee Abbas Abdul Hamid as Managing Director/President effective yesterday, replacing Datuk Mustafha Abd Razak.

“Give me a chance to explore the bank, then I will be able to give you a more comprehensive action plan,” Zulkiflee said at a press conference on the announcement here yesterday.

Also present was bank Chairman Tan Sri Shukry Mohd Salleh.

Prior to the appointment, Zulkiflee served on the board of directors of Maybank Islamic and before that, he was Group Chief Executive Officer/Managing Director of Affin Bank from 2009 to 2015. He also served on a number of industry committees, including council member of the Association of Banks Malaysia as well as chairman of the audit committee of Malaysian Electronic Payment System.

Meanwhile, on the bank’s collaboration with Bank Rakyat Indonesia (BRI), Chief Retail Banking Officer, Mohd Shahril Isa, hoped it would be able to capture the remittance service market share of the thousands of Indonesian workers here.

“We have signed a memorandum of understanding with BRI to expand our remittance services there, likely in the second or third quarter, using BRI as the platform,” he said.

The collaboration would enable both banks to provide money order services to over 700,000 Indonesians in Malaysia.

BRI was set up in 1895 and has 50 million retail clients, with over 10,612 business and services branches all over Indonesia, while Bank Rakyat is the largest Islamic cooperative bank in Malaysia with 147 branches. — Bernama