KUALA LUMPUR: The cooperative institution serves as a crucial tool in enhancing the living standards of Malaysians, particularly those in the B40 income group, micro-entrepreneurs, and local communities, according to Prime Minister Datuk Seri Anwar Ibrahim.
Speaking at the official opening of Wisma Co-Opbank Pertama (CBP), Anwar emphasised that cooperatives extend beyond financial services, acting as a platform for community empowerment in line with the Malaysia MADANI vision.
His speech was delivered by Entrepreneur Development and Cooperatives Minister Datuk Ewon Benedick.
“The MADANI government will continue to support and strengthen the cooperative sector as one of the engines of economic growth for the rakyat,“ Anwar stated.
Data from the Malaysia Co-operative Societies Commission revealed that over 16,000 cooperatives were registered as of December 2024, with membership exceeding 7.2 million.
Anwar commended CBP for its strong financial performance, recording a profit of RM124.29 million for the financial year ending Dec 31, 2024, and total assets reaching RM12.84 billion.
He noted that CBP embodies the economic resilience of the people, grounded in syariah principles and driven by values of social justice.
“I hope CBP’s accomplishments will continue to be carried forward by the cooperative movement in Malaysia, ultimately contributing to the nation’s economic well-being,“ he added.
The newly launched Wisma CBP, a 13-storey building in Kampung Baru, marks the institution’s 75th anniversary and symbolises its leadership in modern, inclusive cooperative banking.
Anwar expressed confidence that the facility would encourage greater community participation in the cooperative sector, further boosting Malaysia’s socioeconomic progress. – Bernama
