Banks offering six months moratorium on credit facilities

ABM and AIBIM said the moratorium reflected the member banks’ continued commitment to provide comprehensive support to its borrowers and customers.

KUALA LUMPUR: Banks will offer a six-month moratorium on the installment of all credit facilities (excluding credit cards) for individuals, all microenterprises; and all small and medium enterprises (SMEs) affected by the Covid-19 pandemic.

In a joint statement on Tuesday, the Association of Banks in Malaysia (ABM) and Association of Islamic Banking and Financial Institutions Malaysia (AIBIM), said the moratorium for these categories, including all individuals offered (all B40, M40 and T20 borrowers/customers) will be on an opt-in basis.