Bank Rakyat allocates RM60m on education funding to produce more talents

February 8, 2018 @ 9:20PM

KUALA LUMPUR Feb 8 (Bernama) – Bank Rakyat has allocated RM60 million for education funding under the Super High Income Programme (SHIP) managed by Yayasan Peneraju Pendidikan Bumiputera (Yayasan Peneraju).

The bank’s managing director and president, Datuk Zulkiflee Abbas Abdul Hamid said 300 individuals were expected to benefit from its Education Financing-i.

He said this initiative was to assist the country produce highly skilled manpower to secure jobs that could meet the current market needs.

“If this education funding receives very good response, Bank Rakyat does not dismiss the possibility of increasing the allocation,” he told a press conference after the signing of a memorandum of understanding (MoU) between Bank Rakyat and Yayasan Peneraju, here, today.

The profit rate of the exclusive funding under SHIP is around five per cent.

Zulkiflee signed the MoU for Bank Rakyat, while Yayasan Peneraju was represented by its chief executive officer Raja Azura Raja Mahayuddin. It was witnessed by deputy director-general (Policy) of the Economic Planning Unit under the Prime Minister’s Department, Datuk Saiful Anuar Lebai Hussen.



The SHIP focuses on the main sectors which require skilled manpower and professionals like in the financial services, health, maritime and aerospace sectors, while Yayasan Peneraju is considering other fields such as cyber security, actuarial science and medicine.

The duration of the course programme is between three and five years.

Meanwhile, Raja Azura said that under SHIP, each student would be offered funding based on the fee of the chosen course programme, with the amount of funding at RM60,000 to RM200,000.

She said Yayasan Peneraju would bear the payment of 20 per cent of the principal amount of the loan for those who successfully completed their studies.

“This programme (SHIP) targets the middle-income group, who have work experience in the relevant fields and aged 40 years and below.

“Since SHIP was launched in August 2017, 380 people have registered and the list is currently in the evaluation process. The first programme is expected to start around this June and a new programme will be introduced in the second quarter of the year,” she said.

The SHIP was launched last Aug 18 by the prime minister, who also chairs Yayasan Peneraju’s board of trustees. It was in line with the government’s aspiration to produce more skilled and professional manpower towards increasing the number of people earning a monthly income of more than RM20,000.

Raja Azura said to date, Yayasan Peneraju had developed over 20,000 Bumiputera talents via more than 200 programmes and it was now preparing to launch the Third Wave (2018-2020).

Yayasan Peneraju was given the mandate to develop 40,000 high-income Bumiputera talents by 2020.