PETALING JAYA: An advocacy group representing families of the 54 Malaysians missing in the Nepal-China floods has urged Bank Negara Malaysia (BNM) to establish a unified relief framework across all financial institutions.
While welcoming BNM’s recent call for banks to assist affected families, Malaysia Solidarity: Families in Hope (Masfih) spokesperson Manivannan Rethinam, on Saturday (Oct 3), said the need for standardised documentation and procedures to spare next-of-kin unnecessary administrative and legal burdens.
The group is requesting an interest-free moratorium on liabilities registered under the missing persons' names—such as housing, vehicle, and personal loans—without accruing penalties or late fees.
Masfih also called for a centralised mechanism to identify and preserve the missing individuals' assets across banks, investment platforms, and insurers, rather than forcing grieving families to navigate each institution independently.
"This request applies only to liabilities registered in the names of the missing persons and not those of their next of kin or other family members," he said.
Manivannan requested an urgent meeting with BNM and the Attorney-General's Chambers to establish a clear, legally sound framework while their loved ones' status remains unresolved.
“Families should not be expected to independently identify every bank, financial institution, investment platform, insurer, takaful operator or other provider with which a missing person may have an account, investment, policy or financial interest," he said.
BNM previously stated that financial institutions stand ready to offer goodwill relief, including repayment deferments, fee waivers, flexible documentation, and expedited insurance claims, advising affected families to contact their respective banks directly.
"Financial institutions may also prioritise the processing and validation of policy or certificate status, expedite the payment of insurance and takaful claims, as well as provide other forms of support tailored to the specific needs of the affected families," it said.
BNM also advised the next of kin of the affected Malaysians to reach out to the relevant financial institutions for appropriate assistance.
