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SABAH CREDIT CORPORATION | Who's behind Sabah Pay?
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- เผยแพร่เมื่อ 27 มี.ค. 2021
- Feeling unsure about the Sabah Pay app? Get to know the stories and people behind the app!
The Sabah Pay app is managed by Sabah Credit Corporation (SCC) or also known as 'Perbadanan Pinjaman Sabah', a statutory body fully owned by the Sabah State Government in Malaysia (under the purview of the Sabah State Ministry of Finance).
The primary objective of the Corporation is to help contribute towards the socio-economic development of the State of Sabah. In its capacity as a financial institution, the Corporation complements the Sabah State Government's efforts by providing or facilitating financial credits to promote and encourage private investment involving agriculture, light industry, development of rural and urban housing, shophouses and public utilities and amenities.
In line with the government’s Economic Transformation Program and Bank Negara Malaysia’s (BNM) vision to transform Malaysia into a cashless society, Sabah State Government aims to implement Smart Finance to drive financial inclusion, making financial services accessible and affordable, filling the void of inaccessibility to rural areas and promoting urbanization.
The launch of the Sabah State citizen app, Sabah Pay is the first step and a crucial enabler of Smart Finance vision, enriching the lives of urban consumers by saving time and costs associated with financial transactions as well as benefiting businesses through greater labour efficiencies, lower direct costs and increased revenues via digital payments.
"THE INCORPORATION"
On June 15 1955, the North Borneo Credit Corporation (NBCC) was incorporated under the Credit Corporation Ordinance No. 1 of 1955. NBCC commenced operations with a launching grant of $1 million from part of the Japanese Compensation Fund. NBCC was then under British Colonial Administration and was manned with a grain staff strength of four.
In 1972, the North Borneo Credit Corporation (NBCC) was renamed Sabah Credit Corporation (SCC).
In 1981, the Ordinance was replaced by the State Enactment No. 22 of 1981. From then on, the activities of the Corporation are governed by this Enactment.
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