Bank Islam continues enhanced targeted repayment assistance

Bank Islam hq

KUALA LUMPUR: Bank Islam Malaysia Bhd is continuing its Enhanced Targeted Repayment Assistance (ETRA) for customers adversely impacted by the Covid-19 pandemic.

The measure is in line with Bank Negara’s call for banking and financial institutions to assist borrowers based on their specific financial circumstances, following the re-imposition of the movement control order (MCO) nationwide until early of next month..

In accordance with the bank’s existing Targeted Repayment Assistance (TRA) response, offered on a case-to-case basis, Bank Islam will continue to offer distressed customers on the existing moratorium an additional three months extension to defer their financing or a six-month extension on a reduced installment payment schedule, with simplified documentation requirements, Bank Islam said in a statement yesterday.

Bank Islam also assures that the assistance remains available, including and not limited to TRA, but also other forms of long-term assistance such as Rescheduling and Restructuring (R&R) package.

Assistance is also applicable to customers across various income groups, micro-businesses and customers affected by the recent MCO, it said.

In support of the statements from Bank Negara and the Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) on May 12,2021, Bank Islam urges customers previously on other forms of targeted repayment assistance seeking further financial assistance to contact the bank. — Bernama

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