AIBIM: Assistance on repayment for customers affected by Covid-19

KUALA LUMPUR (May 13): Member banks under the Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) are committed to continuing to assist customers affected by Covid-19 and who are facing difficulties in repaying financing.

AIBIM executive director Ratna Sha’erah Kamaludin said the bank had developed a simple application process and documentation requirements to make it easier for customers to seek assistance.

"Customers only need to contact the bank to obtain appropriate advice and assistance," he said in a statement yesterday.

According to AIBIM, under the Targeted Loan Repayment Assistance, as of March 26, 2021, the banks had collectively approved over 95% of the 1.6 million applications received, including applications for a financing moratorium and reduction in monthly payments.

The association also urged affected customers to immediately consult and seek assistance from banking institutions.

AIBIM was established in 1995. There are currently 26 member banks, including 11 local banks, five development financial institutions and 10 foreign banks incorporated in Malaysia.

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