Moratorium or not, banks will win, says Najib

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Tengku Zafrul Aziz says the government must reimburse banks if a moratorium is ordered, prompting Najib Razak to say banks benefit either way.PETALING JAYA: Former prime minister Najib Razak said banks will profit regardless of whether Putrajaya forces them to impose a loan moratorium or not.This came after finance minister Tengku Zafrul Aziz told Sinar Harian that the government would have to “gratuitously” reimburse banks if Putrajaya insisted on a blanket moratorium being offered.Najib said that if the government does not instruct banks to offer a moratorium, despite having the authority to do so, these financial institutions would profit.“If the government wields its power and directs banks to impose a moratorium, the government would need to reimburse them — and the bank will also profit,” he said in a Facebook post.Calls for banks to impose a moratorium on loans have gro…