Bank Rakyat president/MD Zulkiflee Abbas leaving in April

PUTRAJAYA: Bank Rakyat president/managing director Datuk Zulkiflee Abbas Abdul Hamid (pix) will end his services on April 2 this year, and relinquish other positions he has held since joining the bank on April 3, 2017.

The Ministry of Entrepreneur Development (MED) is looking at the process of appointing a new president/managing director for the bank with the party involved, including Bank Negara Malaysia, the ministry said in a statement today.

“The development shows a positive direction for Bank Rakyat, in line with its commitment in fostering transparency in its operations, in accordance with current regulatory compliance and global best practices in the banking industry,“ said the ministry.

Zulkiflee Abbas said Bank Rakyat has diversified its products to cater to all levels of consumers.

“Since two years ago, we have successfully diversified our pro-ducts, which not only focused on personal loans solely but also offers retail financing products such as housing, education and vehicle, as well as loans for small and medium enterprises,” he added.

Zulkiflee Abbas expressed his gratitude to the MED, Bank Rakyat’s board of directors and all stakeholders who had given their support in implementing the bank’s transformation strategy.

On Dec 6 last year, Entre-preneur Development Minister Datuk Seri Mohd Redzuan Yusof announced the appointment of former adviser of CIMB Islamic Datuk Noripah Kamso as the new Bank Rakyat chairman.

She replaced Tan Sri Shukry Mohd Salleh who was dismissed immediately from the post in November 2018 following his involvement in state investment fund 1Malaysia Development Bhd’s original audit report.

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