KUALA LUMPUR (May 22): Agrobank will launch a first-of-its-kind, agriculture-based takaful programme that provides basic protection for the agricultural community against losses, particularly due to natural disasters.

President and chief executive officer Datuk Tengku Ahmad Badli Shah Raja Hussin said this underscores the bank’s continuous efforts to resolve food security issues.

“It’s also high time that the agricultural sector transitioned to sustainable agriculture (to help) address the immediate demands and availability of food while considering the long-term repercussion of our agricultural activities on our natural resources,” he said.

According to an Agrobank statement, he said this in his speech when chairing the 76th management committee meeting and the 40th general assembly meeting of the Association of National Development Finance Institutions in Member Countries of the Islamic Development Bank (ADFIMI) in Jeddah, Saudi Arabia, recently.

Tengku Ahmad Badli Shah, who is also ADFIMI vice-chairman, said the bank is also focused on building capacity in agricultural sectors, namely investing in education and training to develop skills and knowledge for farmers, and promoting the use of modern, affordable technologies and best practices.

He urged the association to leverage its collective expertise and knowledge in implementing more policies, discussions and strategic collaborations to promote the adoption of sustainable practices within the agricultural sector.

According to the statement, the ADFIMI management committee and general assembly meetings were part of a three-day programme hosted by the Islamic Development Bank Group. 

At the event, delegates from 57 member countries deliberated on topics of food security, sustainable agriculture and the pivotal role of Islamic finance in addressing these issues. 
 

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