Bank Rakyat signs MoU to introduce Education Financing-I

11-Jul-2018 Intellasia | New Straits Times | 6:02 AM Print This Post

Bank Rakyat signed a memorandum of understanding (MoU) with Universiti Malaysia Pahang (UMP), AKATI Consulting (M) Sdn Bhd, Admal Aviation College and Kolej Poly-Tech Mara (KPTM) today to finance higher education costs for prospective students. The bank’s chief operating officer, Datuk Amirudin Abdul Halim, said eligible students can apply for a maximum loan amount of RM1 million, with a financing period of up to 20 years at profit rate, under the Education Financing-I. “Bank Rakyat provides opportunities for more people to continue their studies at a higher level. (The opportunity is) open to citizens aged between 18 and 60,” he said at the event, adding that the minimum income of applicants or applicants’ parents is RM2,000. Amirudin said that this initiative is one of many by Bank Rakyat to promote Education Financing-I, as well as to contribute to the development of highly-skilled students. Also present at the MoU signing were UMP vice-chair, Prof Datuk Dr Daing Nasir Ibrahim; chief executive officer of AKATI Consulting (M) Sdn Bhd, Krishna Rajagopal; chief executive officer of Admal Aviation College, Abd Malek Packeer; and KPTM’s chief executive officer, Nordin Ahmad. Dr Daing Nasir said that the funding is also extended to students pursuing dual-degree programmes. “This is (part of) a collaboration between Karlsruhe University of Applied Science (HsKA) and Reutlingen University (RU). “We believe that more collaboration opportunities like this can be used as a platform for further (development among higher education students),” he added. Prospective students can apply for the Education Financing-I through UMP, AKATI Consulting (M) Sdn Bhd, Admal Aviation College, and KPTM; or by calling the Tele-Rakyat Contact Centre at 1-300-80-5454; or by visiting


Category: Malaysia

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