PM wants banks to spare petty traders from legal action for failing to repay loans

PUTRAJAYA: Prime Minister Datuk Seri Ismail Sabri Yaakob called on all commercial banks not to take legal action against hawkers and petty traders who failed to repay their loans.

Instead, he said the banks should emulate the initiative taken by the financial institutions under the Ministry of Entrepreneur Development and Cooperatives (Medac), such as Bank Rakyat and SME Bank not to take any legal action against the group if they failed to make repayments until June 2022.