Thursday, June 6, 2013

MoF eyes 100% penetration - BSN

KUALA LUMPUR: The Finance Ministry, through Bank Simpanan Nasional Bhd (BSN), is eyeing a 100% penetration rate for banking services nationwide.

Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2013/6/6/business/13204435&sec=business
Published: Jun 06, 2013

This follows the appointment of 5,000 more registered bank agents (EBB) by year-end.

Deputy Finance Minister Datuk Ahmad Maslan said to date, 4,055 EBB's had been appointed, translating into a 78% penetration rate.

The EBB facility has received an overwhelming response since its inception in January last year, with 6.4 million transactions undertaken and valued at RM569mil.

“The penetration rate is assisting the people in enjoying banking services at their locations, although there is no bank in operation there, and at the same time helping Malaysia to attain the status of a developed nation by 2020,” he told a press conference after visiting the BSN headquarters in Jalan Ampang here yesterday.

Among the services offered by the EBB's are withdrawals of not more than RM500, deposits, premium savings certificates, payment of bills and top up for prepaid phones.

“The EBBs can be found at a number of locations in the districts, among them, at retail shops and petrol stations, to make it easier for the rural people, including those in Sabah and Sarawak to undertake banking matters,” Ahmad said.

Meanwhile, BSN's micro financing facility launched in 2007 has received good response.
The facility of up to RM50,000, is for small and medium entrepreneurs to assist them in undertaking various forms of businesses, and particularly for those in the rural segment.

“Up to April, BSN recorded 34,000 borrowers with approved payments reaching RM659mil. The figure is an indication of the high demand for the facility from local entrepreneurs,” Ahmad said.

Bernama

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