PRIME MINISTER Datuk Seri Anwar Ibrahim has described cooperatives as a crucial instrument in improving the quality of life for Malaysians, particularly those in the B40 income group, micro-entrepreneurs, and local communities.
Anwar, who also serves as Finance Minister, said cooperatives are not only providers of financial and banking services but also serve as agents of empowerment aligned with the government’s Malaysia MADANI vision.
“The MADANI government will continue to support and strengthen the cooperative sector as one of the engines of grassroots economic growth,” he said in a speech delivered by Minister of Entrepreneur Development and Cooperatives Datuk Ewon Benedick at the official opening of Wisma Co-opbank Pertama (CBP) in Kuala Lumpur today.
According to data from the Malaysian Cooperative Commission, as of December 2024, over 16,000 cooperatives have been registered nationwide, with a combined membership exceeding 7.2 million.
Anwar also extended his appreciation to CBP for recording its highest-ever profit of RM124.29 million for the financial year ending 31 December 2024, with total assets amounting to RM12.84 billion.
“CBP is not merely a cooperative bank; it symbolises the people’s economic struggle, rooted in cooperation, guided by Shariah principles, and grounded in values of humanity and social justice,” he said.
He expressed hope that CBP’s success would continue to inspire the cooperative movement in Malaysia and contribute to broader national economic well-being.
The Prime Minister also said the opening of the 13-storey Wisma CBP, located in Kampung Baru, provides an ideal platform for the Ministry of Entrepreneur Development and Cooperatives (KUSKOP) to showcase and recognise national cooperative achievements.
He added that such initiatives would encourage greater public participation in the cooperative sector and enhance the role of cooperatives in driving the country’s socioeconomic development.
Wisma CBP was officially launched in conjunction with CBP’s 75th anniversary celebration on 7 June and stands as a symbol of CBP’s strength and progress as a modern, sustainable, and inclusive cooperative financial institution. - July 10, 2025
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