Consider the top 300 cooperatives around the world — their total turnover last year was over US$2 trillion (RM8.3 trillion), according to the 2018 World Cooperative Monitor. One of them is our very own Islamic cooperative bank, Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat), with 892,468 members and total shares and subscriptions of RM2.99 billion. 1 in the top 100 best cooperatives in Malaysia as reported by the Cooperative Societies Commission of Malaysia. There are currently 14,236 cooperatives with 6.5 million members — they form quite an economic force. The “power” is in the people’s hands to fix reasonable prices to goods according to quality.

Source: New Strait Times November 04, 2019 18:11 UTC