Agrobank Urges Paddy Farmers To Join Takaful Scheme

KUALA LUMPUR, Dec 24 (Bernama) -- Registered paddy farmers nationwide are encouraged to join the Paddy Crop Takaful Scheme (STTP) as protection against unforeseen disasters.

In a statement today, Agrobank highlighted that the STTP is crucial for farmers, especially when facing natural disaster risks such as floods or drought and pest and disease infestations.

"STTP helps ensure the continuity and sustainability of paddy cultivation in the event of any disaster. Farmers may face significant losses without adequate protection, making it difficult for them to continue their agricultural activities.

"Farmers only need to complete the Takaful proposal form and open an Agrobank account (if they do not already have one) at the Area Farmers' Association (PPK) or the nearest Agrobank branch to benefit from the scheme. It’s very easy and quick," said Agrobank President and Chief Executive Officer Datuk Tengku Ahmad Badli Shah Raja Hussin in the statement.

He added that Agrobank had received over 30,000 registrations from farmers nationwide in November and expected the figure to continue rising following the recent floods in several states.

He noted that the scheme provides financial coverage of up to RM3,000 per hectare per season for farmers who experience crop damage due to natural disasters like floods or drought and RM1,500 per hectare per season for pest and disease infestations.

-- BERNAMA