Bank Negara: Blanket loan moratorium may not be the best solution

Governor Datuk Nor Shamsiah Mohd Yunus said all banks have their payment assistance plans, including targeted loan moratoriums, which can be offered to borrowers who have lost their jobs or suffered a reduction in income.

KUALA LUMPUR: A blanket loan moratorium may not be the best solution for borrowers following the reimposition of the movement control order (MCO) nationwide, instead they should approach banks to help them meet their debt obligations, according to Bank Negara.

Governor Datuk Nor Shamsiah Mohd Yunus said all banks have their payment assistance plans, including targeted loan moratoriums, which can be offered to borrowers who have lost their jobs or suffered a reduction in income.