News about Association of Banks in Malaysia

ABM said it first introduced in 2013 the standardised template for description of key terms and conditions in respect of housing loan or home financing agreements for individuals involving a principal sum of RM500,000 and below.

KUALA LUMPUR (March 25): The Association of Banks in Malaysia (ABM) said its member banks are currently working out the full details of the proposed six-month moratorium on loan repayments to ensure they will be efficiently executed with minimum inconvenience to customers.

KUALA LUMPUR (Feb 11): The Association of Banks in Malaysia (ABM) says its members are undertaking measures to ensure their respective customers are able to weather the impacts caused by the coronavirus.

KUALA LUMPUR (Sept 26): The Association of Banks in Malaysia (ABM) announced today its member banks have ceased charging fees for cheque and cash payments for credit card and financing repayments over the counter (OTC) and at cash deposit machines.

PETALING JAYA (March 27): Bank Negara Malaysia (BNM) (pictured) has given banking institutions until end- 2019 to revise “unfair” terms and conditions, and improve clarity by using  plain language for both new and existing housing loan and financing contracts.

KUALA LUMPUR (Nov 2): Malayan Banking Bhd (Maybank) sees the property sector as the biggest winner of Budget 2019, with a variety of measures ranging from specific allocations for supply – financing of first-time purchases – of affordable housing, as well as stamp duty exemptions and property crowdfunding to help the industry clear the supply overhang, placing it on a path to sustainable growth.

KUALA LUMPUR (May 31): Commercial banks in Malaysia will reduce the goods and services tax (GST) rate to 0% tomorrow (June 1), from 6% at present.

KUALA LUMPUR (Nov 20): The Association of Banks in Malaysia (ABM) has reiterated that its member banks “have been and will continue to” provide home loans to all eligible borrowers, said the association in a statement issued today to rebut claims that commercial banks are imposing strict rules on home loan applicants.

PETALING JAYA (Oct 9): The Association of Banks in Malaysia (ABM) has refuted allegations that homebuyers are finding it tougher to obtain housing loans and that loan approval times are increasing.

KUALA LUMPUR (Sept 11): A banking industry group has come out to "strongly refute" the claim by a property expert that banks are responsible for the oversupply of retail and office space in the Klang Valley.