Banks offer victims various types of relief


  • Nation
  • Tuesday, 09 Jan 2007

PETALING JAYA: Banks will consider replacing for free ATM cards and passbooks damaged or lost in the recent floods. 

Several banks will also consider extending new loans to those who qualify, according to the Association of Banks in Malaysia (ABM).  

Other types of relief to flood victims will include a temporary suspension of monthly instalment payments, restructured or rescheduled loans and, if appropriate, reduced or waived charges. 

In a statement here, ABM assured flood victims that association members would give them these forms of relief. 

Temporary counters and service centres, where necessary, have been set up by its member banks and various assistance schemes have been put into place or are being drawn up to provide support for the victims.  

The association said the welfare of bank employees in affected states was also not overlooked, and that teams from the respective head offices had given out aid and moral support to affected employees. 

Maybank head of consumer banking Spencer Lee said the bank would allow up to six months’ deferment on monthly instalments for consumer loans as well as restructure loans on a case-by-case basis. 

CIMB Bank executive director Tunku Ahmad Burhanuddin said the bank would take several measures, including waiving penalty interest and late payment charges for Xpress cash, the bank’s personal loan scheme. 

A spokesman of Public Bank Bhd said all its 241 branches nationwide had been advised on the deferment of monthly instalments on loan repayments and other products.  

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