JAKARTA, Aug 19 – Malaysia’s Bank Kerjasama Rakyat Berhad (Bank Rakyat) on Tuesday signed a memorandum of understanding (MoU) with Indonesia’s PT Bathi Rakyat Abadi in Jakarta, expanding its cross-border footprint and strengthening cooperative ties between the two neighbours.
The MoU was witnessed by Malaysia’s Minister of Entrepreneur Development and Cooperatives, Ewon Benedick, who described the agreement as “an important first step” towards empowering communities, broadening financial inclusion and reinforcing the cooperative movement across ASEAN.
“This is not merely ceremonial, but a shared aspiration of Malaysia and Indonesia to advance communities through the cooperative spirit,” Ewon said in his remarks.
Among those present were Hajjah Siti Hediati Hariyadi, better known as Ibu Titiek Suharto, member of the Yogyakarta People’s Representative Council; Bank Rakyat Chairman Datuk Mohd Irwan Mohd Mubarak; its Chief Executive Officer Ahmad Shahril Mohd Shariff; and Rakyat Management Services Chairman Jafri Kudus.
Ewon highlighted the cultural and historical ties linking Malaysia and Indonesia, stressing that cooperatives remain a vital driver of economic resilience and people’s empowerment.
“Bersama, kita bisa lebih – together, we can achieve more,” he said.
Bank Rakyat, one of Malaysia’s largest cooperative financial institutions, is positioning the partnership as part of its long-term strategy to strengthen its regional presence, in line with broader Malaysia–Indonesia economic cooperation.
