KUALA LUMPUR: Waiving the accrued interest payment on all individual and business loans will have significant long-term consequences for banks, especially when the interest income accounts for 80% of banks’ revenues, says Bank Negara.
Governor Datuk Nor Shamsiah Mohd Yunus said the total individual and small and medium enterprises (SMEs) loans that are eligible for automatic opt-in moratorium amounts to about RM1.4 trillion – or 73% of the total banking system’s loans.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!