An open letter to banks in Malaysia

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From FLKA series of verbal jousting was played out by politicians across the divide over the past month on whether and why banks in Malaysia should extend a loan moratorium to their borrowers.For more than a decade, our financial systems had been generally calm. And the banks have been building on previous gains earlier – post the 1985–88, 1997 and 2008 crises – gaining the customers trusts in all they do. The pandemic, now into its second year, is causing growing economic damage to our country. Rather than responding positively to the call by the man on the street and small business enterprises for the banks to extend a loan moratorium, it appears that the bankers view the call as unwarranted with no one willing to step in as intermediaries to help the man on the street.If the banks were to recall, most of you went through some anxious moments during the 1985-88 and 1997 crise…