Covid-19: Banks can take another moratorium extension but make it selective coverage, say economists

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The Malaysian banking sector is sufficiently sturdy to withstand a plausible extension of the loans moratorium which came into effect in April, say economists. ― Picture by Sayuti ZainudinKUALA LUMPUR, July 18 — Economists have opined the Malaysian banking sector is sufficiently sturdy to withstand a plausible extension of the loans moratorium which came into effect in April to aid borrowers facing difficulties from the ongoing Covid-19 pandemic. However, they advised that in the event of an extension, the government should allow the banks to do so selectively instead of providing blanket coverage to all borrowers, as this will benefit those who need it the most. Universiti Tun Abdul Razak's MBA Global Islamic Finance Programme director Prof Barjoyai Bardai said it will depend on the individual bank's cash flow as to whether they are able to carry out the moratorium'…