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RETAIL BANKING | Cesar Tordesillas, Malaysia

Malaysia's BSN to appoint 5,000 rural banking agents

Bank Simpanan Nasional will appoint 5,000 banking agents over the next three years to enhance banking convenience to rural residents.

To date, 2,017 non-bank retail outlet operators such as mini-markets, telcos, insurance agencies and Amanah Ikhtiar Malaysia have been appointed nationwide to provide basic banking services to the people, according to the 2012/2013 Economic Report released by the Finance Ministry.

It says that Bank Negara issued the Guidelines on Agent Banking to financial institutions in August to ensure that agent banking is conducted in a safe and reliable manner.

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