Bank Negara introduces standardised housing loan, home financing agreement for retail customers

KUALA LUMPUR: Bank Negara has introduced a standardised housing loan and home financing agreement for retail borrowers/customers.

In a statement, the Association of Islamic Banking and Financial Institutions Malaysia (Aibim) said the initiative seeks to enhance the quality-of-service delivery, promote consumer understanding and comparability of key terms and conditions, and simplify language in such agreements, including borrowers'/customers’ and financiers' responsibilities and obligations.