KUALA LUMPUR: Deeply concerned about the flood situation affecting several areas across Malaysia, Bank Islam Malaysia Bhd announced financial relief measures to support impacted micro, small and medium-sized enterprises (MSMEs), along with assistance for individual customers.
To support affected MSMEs, Bank Islam is offering the Relief and Adaptation Facility (RAFt) financing programme for businesses located in districts identified by the National Disaster Management Agency (NADMA) as flood disaster areas.
Through this facility, eligible MSMEs can access financing to restore or replace damaged assets such as manufacturing plants and machinery, as well as essential working capital.
The bank will also provide a six-month moratorium for its existing MSME customers in areas classified by NADMA as flood disaster zones.
This relief measure includes all credit facilities with scheduled or contractual payments, including Term Financing, Revolving Credit and Cash Line and Trade Facilities.
The RAFt financing programme is extended to customers in areas assessed as being at risk of experiencing similar disasters in the future.
The bank has reinstated its Flood Relief Programme for individual financing customers. Affected customers with Home, Personal, or Vehicle Financing-i facilities may apply for a deferment of monthly instalments for up to six months, subject to applicable terms and conditions.
It is also offering free replacements for damaged or lost credit and debit i cards and cheque books.
Applications for the financial assistance can be submitted at its nearest branch within three months of the incident.
Further details on the available relief measures are accessible from its corporate website at www.bankislam.com.
Affected Business Financing-i customers may make inquiries and apply for assistance at its nearest branch or by emailing smeassist@bankislam.com.my.
