Sultan Ibrahim Sultan Iskandar of Johor has called for the state to have its very own financial institution to help Johoreans get approvals for housing loans.
The unusual suggestion was made as His Royal Highness said there were many subjects of his state who were unable to secure housing loans from commercial banks, despite the Federal Government having made allocations to build affordable homes for lower income groups.
“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 today at the opening of the Johor State Assembly in Johor Baru.
The Star Online reports that Sultan Ibrahim also commended the cooperation between Bank Rakyat and his own Sultan Ibrahim Foundation aimed at provding housing loans to Johoreans seeking to purchase their first home.
His Royal Highness said that under the cooperative venture, Johoreans will soon be able to submit their loan applications, after which a special committee will vet qualified candidates, based on several set criteria.
Sultan Ibrahim has been on a consistent roll displaying his own considerable wealth, with the purchase of not only a custom-made Mack truck (to transport his equally custom-made speedboat), and the procurement of a (again, custom) Boeing 737-800. Good to know the Johor Royal Family is keen on spreading the wealth to the rest of the people in the state.
