PUTRAJAYA: The banking sector will implement a programme known as Financial Management and Resilience Programme (Urus) to aid B50 borrowers, says Datuk Seri Ismail Sabri Yaakob.
The Prime Minister said Urus is a comprehensive loan payment support programme that will be offered to impacted B50 customers, including borrowers under the B40 category, where the gross household income is less than RM5,800 a month.
The facility that will be offered is a three-month exemption on interest, reduction in instalment payment for up to 24 months that will include a reduction in the interest rate.
“During this period, customers with borrowings or financing and personal credit cards without guarantee can also enjoy lower interest to ease their financial burden,” he said in a statement on Wednesday (Oct 13).
Ismail Sabri said the programme was formulated by the banking sector together with Bank Negara Malaysia and the Credit Counselling and Debt Management Agency, adding that the Finance Ministry will lay out details of the programme.
“This initiative reflects the Malaysian Family spirit and supports the government’s efforts to assist borrowers among the B50 group, who prior to this, has benefitted from moratoriums announced under the various aid and stimulus packages since March last year.
“The government hopes that through this whole-of-nation approach, we can realise our aim for Malaysia to be a prosperous, inclusive and sustainable nation,” he said.
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