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Agro Bank Malaysia
Agrobank, formerly known as Bank Pertanian Malaysia, is an institution which provides holistic financial services and banking facilities such as savings activities, banking services, loan facilities, insurance coverage and advisory services. It is a Government-linked-Company (GLC) under the Minister of Finance Incorporated (MFI) with 176 branches in 14 states of Malaysia (as at 25 October 2011). Focusing on agriculture, the bank’s financing of the agricultural sector is driven by a policy set forth by the Ministry of Agriculture and Agro-based Industries.
==History==
Agrobank was established in 1969 under the Act of the Parliament of Malaysia No. 9/69 on 1 September 1969 as "A development finance institution directly involved in financing the agriculture sector." It commenced operations on 1 January 1970.
On 12 December 2007, Dewan Rakyat (the Lower House of the Parliament) has approved the proposed Bank Pertanian Malaysia 2007 Bill to incorporate Bank Pertanian with a paid-up capital of RM1 billion to enable it to be competitive with other financial institutions and empower it to help develop agriculture as the third engine of growth under the Ninth Malaysia Plan.() On 19 December 2007, Dewan Negara (the Upper House) approved the bill.()
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