Repayment assistance for those affected by new MCO - banking associations

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The banking industry stands ready to assist borrowers and customers in light of the reintroduction of the movement control order (MCO) in a number of states and federal territories.In a joint statement yesterday, the Association of Banks in Malaysia (ABM) and the Association of Islamic Banking and Financial Institutions Malaysia (Aibim) said banks will continue to extend repayment assistance, including an extension of existing moratorium where applicable, to individuals affected by the MCO.They said banks also announced an extension of the repayment assistance for victims of the recent floods in several states. Please contact the banks to request for targeted repayment assistance.It was noted that the extension will apply to all targeted repayment assistance schemes announced previously.‘In particular, borrowers/customers, who lost their jobs in 2020 or 2021, can apply for pay…