KUALA LUMPUR: Bank Islam Malaysia Bhd
today announced financial relief measures prioritising affected micro, small and medium enterprises (MSMEs) alongside support for individual customers in flood disaster areas nationwide.
In a statement, the bank offered the disaster relief facility financing programme for businesses in districts identified by the National Disaster Management Agency (NADMA) as flood disaster areas.
"Under this facility, eligible MSMEs may obtain financing to repair or replace damaged business assets, such as manufacturing plants and machinery, as well as for essential working capital.
"Meanwhile, a moratorium of up to six months is also available to Bank Islam’s existing MSME customers in NADMA-designated flood disaster areas -- this financial assistance covers all credit facilities with scheduled or contractually due payments, including term financing facilities, revolving credit and cash line facilities and trade facilities,” it said.
In addition, Bank Islam is also offering the "Prihatin Programme for Flood” for individual financing customers.
"House, personal, and vehicle financing-i customers affected by the disaster may apply for up to six months’ deferment of their monthly instalments, subject to the applicable terms and conditions.
"The bank is also offering free replacements for damaged or lost credit and debit cards-i, as well as cheque books,” it added.
Bank Islam group chief operating officer and group chief sustainability officer Mohamed Iran Moriff Mohd Shariff said the bank has been closely monitoring the latest updates on the situation in all affected areas.
"Concerned with our customers’ challenges, we are taking proactive actions to ensure simple documentation and approval processes for them,” he said.
Applications for financial relief can be submitted at the nearest operating Bank Islam branches within three months of the incident. - Bernama
