Azalina takes jab at Zafrul over procedural change in loan moratorium

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Former de facto law minister Azalina Othman Said has taken a jab at Finance Minister Tengku Zafrul Tengku Abdul Aziz over the latest change in procedure for the six-month loan moratorium for hire purchase (HP) agreement and fixed-rate Islamic financing. Taking to Twitter last night, Azalina (above) said: "This is (what happens) when the finance minister is not a people's representative but a representative of the bank?" She was responding to an article by personal finance website Ringgitplus which reported that borrowers of HP and fixed-rate Islamic financing repayments need to sign additional documentation which opens the door for banks to charge additional interest. Tengku Zafrul, who is the former CIMB Group Holdings Bhd chief executive officer, was roped in by Prime Minister Muhyiddin Yassin to become the finance minister on March 9. On March 25, Muhyiddin announ…