Sultan: Let's set up Bank of Johor

Sultan: Let's set up Bank of Johor
PHOTO: The Star/ANN

JOHOR BARU - Sultan Ibrahim Ibni Almar-hum Sultan Iskandar has suggested that a specific Johor financial institution be set up to handle housing loan applications from Johoreans.

The Johor Ruler said there were still many out there who could not buy a house as they had failed to secure housing loans from commercial banks, despite the Federal and state governments building more affordable homes for the lower income group.

"With this in mind, I would like to suggest to the state government to have our own bank, appropriately named Bank of Johor, to give banking services to the rakyat not only for housing loans but also for development projects as well as saving and investments," he said during the opening of the Johor state assembly sitting here yesterday.

Sultan Ibrahim also commended the co-operation between Bank Rakyat and the Sultan Ibrahim Foundation to provide housing loans to enable people to own their first house in Johor.

Registration for housing loan applications would be open soon where a special committee will pick buyers based on several set criteria, the Sultan added.

On another matter, Sultan Ibrahim called on his subjects to appreciate the vibrant development currently taking place in Johor.

He added that some quarters felt the current development was only for foreigners and did not benefit the locals, believing that such development would create problems.

"Are they blind or absent-minded, that they do not realise that the development is for their own good?" he asked.

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