Banks committed to assisting borrowers before moratorium ends

KUALA LUMPUR (Bernama) -- Malaysian banks are committed to assisting borrowers in providing further assistance before the automatic blanket moratorium ends on Sept 30.

CIMB Group Holdings Bhd chief executive officer Datuk Abdul Rahman Ahmad said banks had identified and contacted about two million borrowers impacted by the COVID-19 pandemic and Movement Control Order, and were working hard to contact them before the end of the moratorium.

"As of Sept 11, the banks had spoken to 1.4 million borrowers out of the two million borrowers contacted. Over 380,000 of them have confirmed that they require loan repayment assistance while the remaining are considering the financing options available to them.