Banks to provide RM1bil financial assistance to vulnerable B50 customers

KUALA LUMPUR: Malaysia's banking industry has announced that it is setting aside about RM1bil for an extended financial assistance sceheme to fund the cost of interest and profit waivers or reductions for the vulnerable B50 customer segment.

The country's bank associations issued the joint statement following the Prime MInister's comments yesterday on the financial assistance scheme, which is a collaboration between the banking industry and the Credit Management Agency (AKPK).