Bank Muamalat offers up to six months moratorium for flood victims

Bank Muamalat CEO Khairul Kamarudin said the bank is offering assistance by way of moratorium of up to six months to customers, based on the merit of the case.

KUALA LUMPUR: Bank Muamalat Malaysia Bhd is offering a moratorium payment period (MPP) of up to six months for all its financing facilities to individuals and businesses in flood-affected areas.

The MPP is available to eligible customers beginning today until Feb 28,2021.

Its chief executive officer Khairul Kamarudin said the bank is concerned about the well-being of its customers who are affected by the ongoing floods, which have displaced thousands of people, damaged farms and forced businesses to close.

As such, he said the bank is offering assistance by way of moratorium of up to six months to customers, based on the merit of the case.

"We understand that many customers are already facing financial constraints as a result of the COVID-19 pandemic which is plaguing the country, and the current flood situation has further burdened them.

"Therefore, the bank will continue to reach out to affected customers through various social media platforms to ensure that they get some reprieve in their financial obligations during such trying times, ” he said in a statement today.

Customers who wish to apply for assistance must furnish the relevant documentary evidence such as photos, and verification from the local authorities.

Furthermore, Khairul said customers who are on-board any payment assistance programme currently identified as "Targeted Payment Assistance” or "Enhanced Targeted Payment Assistance” are eligible to apply and the MPP will supersede the existing programmes. - Bernama

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