In 1994, a new branch of Bank Pertanian Malaysia (BPM) opened in the small town of Song in Kapit Division.
Rather than a typical physical office building, however, it was set up on a speed boat that churned out 230 horsepower and was equipped with a computerised counter. Officially named Pusat PATRIOT Rejang (PPR), it was Malaysia’s first ‘floating’ bank.
The bank on the boat was a unique approach taken by BPM to provide essential banking services to the rural population, in this case to local communities living along Batang Rajang, specifically in Sibu, Kapit and Belaga.
Operated during standard banking hours, PPR made scheduled stops at specified jetties and offered basic banking and bill payment services, which was extremely advantageous for customers who used to spent too much time and money simply to travel to the ‘nearest’ BPM branch in Sibu.
By establishing a branch mobile enough to reach out to those settling in more remote areas of Sarawak, BPM believed it would be able to promote its services better and even educate more people in rural areas on the importance of building a savings culture.
Fast forward to May 2021 and BPM, now known as Agrobank, maintained its goal of supporting rural economic growth by becoming one of four participating banks that launched its mobile ATM (automated teller machine) service in Sarawak.
The decision to join this collaborative initiative between Bank Negara Malaysia (BNM) and the Sarawak Government is part of the bank’s continuous commitment in helping the “unserved and underserved” community towards achieving financial inclusion and expanding access to financing.
“More than 72 per cent of Agrobank branches and kiosks are located in rural areas and we always believe that comprehensive financial services are powerful tools for a strong and inclusive economic growth as well as empowering individuals and community.
“With the potential development of activities in Sarawak, Agrobank sees greater needs to help drive its economic activities,” said Chairman of Agrobank YBhg Dato’ Mustapha Buang in a press release.
Under the initiative, Agrobank would be the first bank to introduce the mobile ATM service to the rural population of southern Sarawak, namely in Padawan, Bau, Lundu, Sematan, Lingga, Pantu, Tebedu, Asajaya and Sebuyau.
At the time the service officially started on 12 July 2021, it operated from 10.00am to 3.00pm and provided banking services including access to ATM and counter services for bank account opening and debit card application.
These areas that Agrobank had opted to operate, according to Premier YAB Datuk Patinggi Tan Sri (Dr) Abang Haji Abdul Rahman Zohari bin Tun Datuk Abang Haji Openg, were agricultural areas, thus his optimism towards the service that would be valuable to the region’s agriculture.
“(The mobile ATM service) will definitely benefit our local farmers and I am also certain that it will be vital for our tourism.
“We are in the midst of constructing the Coastal Road Network as well as repairing and upgrading other infrastructure development in these areas; (the service) will no doubt have a positive impact on these sectors,” he said following the launch of the mobile ATM service.
Mobile ATM Service Expansion under 2022 National Budget
Apart from Agrobank, Bank Simpanan Nasional, Bank Rakyat and Agrobank have been mobilising their ATM service at various stages in rural parts of Samarahan, Mukah, Kapit and Bintulu since 2021.
Following the success of the initiative by BNM and the Sarawak Government, Minister of Finance YB Senator Tengku Datuk Seri Utama Zafrul bin Tengku Abdul Aziz revealed during his presentation of the 2022 National Budget that an additional 20 mobile ATM vehicles would begin operating in 2022, encompassing 250 rural areas and districts nationwide, mainly in Sabah and Sarawak.
