BANK Kerjasama Rakyat Malaysia Bhd (Bank Rakyat) today urged members, customers and stakeholders to stay calm, saying operations are being conducted as usual.

In a statement, the bank said it respects the views of its members.

“As a cooperative bank with close to 900,000 members, we consider different views among members as a normal thing.

“The success of Bank Rakyat as the biggest Islamic cooperative bank in Malaysia is driven by the support given by the government all this while,” it said, alluding to recent reports on calls for the dissolution of the Bank Kerjasama Rakyat Malaysia Bhd (Special Provisions) Act 1978, or Act 202.

The bank said among its achievements is maintaining the rate of dividend payments at a minimum of 10% for 20 years.

Also, it has recorded profits exceeding RM1 billion annually since 2008.

“The financial institution rating of AA2/Stable/P1 by RAM Ratings is based on the bank’s status as being government-supported.

“This year, Bank Rakyat expedited the payment of 2019 dividends at a rate of 14%, as well as its business zakat payments to help B40 and asnaf groups affected by the movement-control order.

“These achievements would not have been accomplished without members and customers’ loyalty.

“Bank Rakyat puts on record its appreciation for the support given.” – Bernama, June 29, 2020.