KUALA LUMPUR: Bank Rakyat plans to appoint two representatives from among shareholders to its Board in the financial year ending Dec 31, 2013. Minister of Domestic Trade, Cooperatives and Consumerism Datuk Seri Ismail Sabri said his ministry would consider a list of qualified shareholders for submission to Bank Negara Malaysia.
Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2013/4/8/business/12940829&sec=business
Published: April 07, 2013
He said the intention in appointing the new directors was in line with the request made at the shareholders’ meeting every year.
Bank Rakyat is an entity under the purview of the Ministry of Domestic Trade, Cooperatives and Consumerism. “I can appoint the directors after getting Bank Negara’s approval. But the names have to be sent to Bank Negara for vetting earlier,” he told reporters on the sidelines of Bank Rakyat’s annual general meeting here on Saturday.
The bank has 947,541 shareholders, comprising individuals and cooperatives. It has at present eight representatives on its Board.
Based on the Bank Kerjasama Rakyat Malaysia Bhd Act (Special Provision 202) 1978, all board members are appointed by the Minister. — Bernama
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