Bank Kerjasama Rakyat Malaysia Berhad (Jawi: ) or Bank Rakyat (Jawi: ) was established on 28 September 1954 under Ordinance CooperationâÂÂs Act 1948, regulated by Bank Negara Malaysia (BNM) under Development Financial Institutions Act (DAFIA 2002), Ministry Of Entrepreneur Development and Cooperatives (MEDAC) and Cooperatives Commission of Malaysia.