Bank Islam gets 10,000 applications to extend moratorium


Bank Islam Malaysia Bhd has received about 10,000 applications for loan repayment moratorium extension involving the retail segment from August until Monday.

KUALA LUMPUR: Bank Islam Malaysia Bhd has received about 10,000 applications for loan repayment moratorium extension involving the retail segment from August until Monday.

Chief executive officer Mohd Muazzam Mohamed also expected the number of applications to continue increasing during the last two weeks of this month.

Towards this end, he urged customers affected by the COVID-19 pandemic to contact the bank immediately and arrange for the best solution in view that the six months moratorium period will end on Sept 30.

"For now, the application process will only take four working days if the documents are complete. We are worried that if customers are late, the application process would take a longer time, ” he said on Tuesday.

He said this in a press conference after a ceremony to handover business zakat worth RM40,000 to the National Higher Education Fund Corporation (PTPTN) today, which was also attended by PTPTN chief executive Ahmad Dasuki Abdul Majid.

Mohd Muazzam said Bank Islam have also opened 10 branches on two consecutive Saturdays (Sept 12 and 19) to facilitate customers who need repayment/financing assistance post moratorium.

In July this year, the government announced a three-month moratorium extension and targeted bank assistance specifically for those who really need help and continue to be affected by the COVID-19 pandemic. - Bernama

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3

   

Next In Business News

Bermaz profit raises to RM133.9mil in FY21
Palm oil reverses course to trade up 1% on stronger US soyoil
Uzma, Petra Energy JV wins onshore petroleum E&P contract in Sarawak
Ipmuda sells PJ property to Kerjaya Prospek, eyes expansion into renewable energy and healthcare businesses
Tenaga, plantations power KLCI sharply higher
Malaysia maintains CPO export tax at 8% for July
FDI slips to lowest since 2009 due to pandemic
Vehicle sales in May doubled on-year but minimal sales seen in June
Malaysia's Carsome weighs US listing with SPAC as option
Pound tumbles as virus resurgence clouds hope for UK recovery

Stories You'll Enjoy


Vouchers