Banks offering targeted repayment assistance to individuals and SMEs without penalties
KUALA LUMPUR, Sept. 30 -- The banking industry is offering borrowers the chance to extend their loan moratorium by offering a targeted repayment assistance, via a targeted extension of the moratorium and repayment flexibility options.
In a joint statement, the Association of Banks in Malaysia (ABM) and Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) said those who had yet to apply for the extension may still do so but they must act immediately.
"Borrowers and customers who have not applied for repayment assistance before October 1, 2020 would need to resume repayment of their monthly instalments based on the instalment amount as advised by their banks, beginning October 2020.
"If however, affected borrowers a...
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