Banks clarify that loan moratorium will include B40

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The Association of Banks in Malaysia has clarified that their members' loan moratorium will include all borrowers from B40 income households who are registered with Bantuan Sara Hidup or Bantuan Prihatin Rakyat.This after its initial statement yesterday which appeared to be that the loan moratorium only applied to those who had lost their jobs.Its statement yesterday said there would be two categories of relief: (1) A three-month moratorium or 50 percent reduction in monthly repayments for six months and (2) a commensurate reduction in monthly repayments.It had said that the first category would be for those who lost their jobs while the second category would be for B40 borrowers, microenterprises as well as small and medium enterprises (SMEs) that must shut down during the current lockdown.However, in a clarification this morning, the ABM said all the abovementioned categ…