Post by : Meena Ariff

Photo: Reuters

Prime Minister Datuk Seri Anwar Ibrahim has said that cooperatives are very important in helping to improve the lives of Malaysians, especially for people in the B40 group (the bottom 40% income group), small business owners, and local communities. He believes that cooperatives play a big role in reducing poverty, giving job opportunities, and supporting people to earn better incomes.

Anwar, who is also the Finance Minister of Malaysia, explained that cooperatives are not just like banks that give loans or help people save money. They are also places where people can learn skills, start small businesses, and work together to solve problems in their community. This idea is part of the government’s Malaysia Madani vision. The Malaysia Madani vision is about making Malaysia a fair, strong, united, and caring country where no one is left behind.

He said, “The Madani government will keep supporting and making cooperatives stronger because they help the people and make the country’s economy grow.”
He shared these thoughts during the official opening ceremony of Wisma Co-Opbank Pertama (CBP) today. However, because he could not attend in person, his speech was read out by Entrepreneur Development and Cooperatives Minister Datuk Ewon Benedick.

Thousands of Cooperatives in Malaysia

Anwar also said that Malaysia now has more than 16,000 registered cooperatives. This information was given by the Malaysian Co-operative Societies Commission. These cooperatives have over 7.2 million members. This means that many families and communities are involved in cooperatives, which helps them earn better incomes and have stronger support systems.

CBP Achieves Its Best Financial Results

The Prime Minister praised Co-Opbank Pertama (CBP) for its great work. In 2024, CBP recorded its highest ever profit, earning RM124.29 million for the year ending December 31, 2024. Its total assets also grew to RM12.84 billion. This is a big achievement for CBP and shows that cooperatives can grow big and be successful like banks.

He said that CBP is not just a normal bank. It represents the struggles of the people to improve their lives and to support each other in society. CBP follows syariah principles, which means it operates according to Islamic rules that focus on honesty, fairness, and no cheating or taking advantage of people. CBP is also driven by values of humanity and social justice, meaning it cares about helping everyone, not just making a profit.

An Example for All Cooperatives

Anwar said, “I hope CBP’s success will continue and inspire other cooperatives in Malaysia. When cooperatives succeed, it helps the country’s economy become better too.”

He also said that the opening of Wisma CBP will give the Entrepreneur Development and Cooperatives Ministry a good place to show the achievements of cooperatives in Malaysia. It will also help people learn more about cooperatives and how they can benefit from joining them.
More People Should Join Cooperatives

Anwar believes that the new building will encourage more people to take part in cooperative activities. When people join cooperatives, they can learn about saving money, starting small businesses, getting loans with fair rules, and working together with others in the community. This helps to make their lives better and grow the country’s economy.

About Wisma CBP

Wisma CBP is a 13-storey building located in Kampung Baru, Kuala Lumpur. It was officially opened on June 7, which was also CBP’s 75th anniversary. The building is a symbol of CBP’s strength, success, and growth over the past 75 years. It shows that CBP is a modern, inclusive, and sustainable cooperative bank that cares about its members and the community.

In his speech, Anwar thanked everyone who worked hard to make CBP successful. He said the government will continue to support cooperatives so they can keep helping the people, especially those in the B40 group and small business owners. He hopes that cooperatives will keep growing and play their important role in making Malaysia a better and stronger country for everyone.