Bank Islam offers targeted repayment assistance for customers

KUALA LUMPUR (Aug 3): Bank Islam Malaysia Bhd has strongly urged vulnerable customers impacted by the Covid-19 pandemic to approach its officers and staff for the best repayment arrangement as the current moratorium period ends on Sept 30.

Customers may visit the bank's network of branches from Aug 7 onwards to discuss solutions that best fit their financial situation and complete the application form to enjoy this facility.

"With the moratorium period set to end on Sept 30, this additional assistance is meant to help customers alleviate financial constraints and stabilise their cash flow," its chief executive officer, Mohd Muazzam Mohamed said in a statement yesterday.

He said the bank has initiated contact with all its customers via text messages and periodical updates across different communication platforms.

Under the targeted repayment assistance, Bank Islam offers three months' moratorium extension from the end of the existing moratorium period to those who have lost their jobs in 2020 and are currently unemployed.

Individuals, who are still working but have suffered significant losses in income as a result of reduced working hours and pay cuts, will be offered reduce monthly instalments commensurate with salary reductions, depending on types of financing.

They will also be offered payment flexibility up to six months from the end of the existing moratorium period.

Stay safe. Keep updated on the latest news at 

Click here for more property stories

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.
  1. COVID-19: 101 new cases today, no deaths
  2. Returning Sabahans clog Labuan entry points over COVID-19 tests
  3. Malaysia to finalise Covid-19 vaccine selection by early 2021, says Khairy