Agrobank: No additional profit charges during moratorium period

Khadijah Iskandar: For our fixed-rate financing customers especially the micro financing customers, there would be no change in the current amount of outstanding and profits borne by our customers, ” covering president and chief executive officer Khadijah Iskandar said in a statement.

KUALA LUMPUR: Agrobank has announced that it will not impose any additional profit charges on financing for all eligible individual and small- and medium-size enterprise (SME) customers during the six-month automatic moratorium period.

This followed Bank Negara’ announcement that fixed-rate Islamic financing may come with additional profit charges after the six-month moratorium effective from April 1 to Sept 30 this year.