Majlis Amanah Rakyat (Mara) is set to implement a number of initiatives including opening its own bank.

Rural and Regional Development Minister Ismail Sabri Yaakob said he would hold a meeting with Bank Negara Malaysia on the matter.

"We have not decided on the name for the bank but we have done the preparations and planning," he said at the Solidariti Kegemilangan Mara Sabah event last night.

He said Mara would also set up its Universiti Majlis Amanah Rakyat (UniMara) this year, with the first student intake in June.

"The university will be established under the Rural Transformation Programme and for a start, 200 students will be accepted into it," he said.

Ismail Sabri also encouraged Mara entrepreneurs to venture into the field of technology.

"We have centres to provide technical and vocational education training besides financing facilities from the government through the ministry," he said.

He urged Mara and entrepreneurs in Sabah to work together towards empowering entrepreneurship via innovation and creativity.

"If all parties work together, I believe the result would be tremendous and capable of pushing Malaysia into the international entrepreneurship arena," he said.

- Bernama