News about Bank Negara Malaysia

Bank Negara Malaysia (BNM), on March 24, 2020, announced an automatic six-month moratorium on all bank loans starting from April 1, to assist borrowers who are facing temporary financial difficulties due to the COVID-19 outbreak.

KUALA LUMPUR (March 27): In line with Bank Negara Malaysia (BNM)’s decision to grant an automatic moratorium on loan payments for six months following the escalation of the fallout of Covid-19, Malaysian banks are doing their bit by announcing that they will not compound interest and profit rates on their loans.

KUALA LUMPUR (March 27): Affin Bank Bhd and Affin Islamic Bank Bhd will be offering their retail customers and SME clients non-compounding interest or profit for six months, for term loan and term financing, during the moratorium for financing facilities due to the COVID-19 outbreak in the country.

KUALA LUMPUR (March 27): Bank Negara Malaysia (BNM) is increasing the allocation of financing facilities under its Fund for SMEs by an additional RM4 billion to RM13.

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 (March 25): The Malaysian Trades Union Congress (MTUC) has welcomed Bank Negara Malaysia (BNM)’s directive to financial institutions to provide a six-month reprieve on loan instalment payments amid the economic fallout of the COVID-19 pandemic.

KUALA LUMPUR (March 25): Bank Negara Malaysia (BNM) announced today that it is allowing banking institutions to tap into their capital buffers, and to provide flexibility on several operating guidelines as the nation grapples with the impact of the COVID-19 outbreak.

KUALA LUMPUR (March 24): Automatic moratorium on loan repayments will be granted to small and medium enterprises (SMEs) and individuals — an additional measure taken by Bank Negara Malaysia to relieve the burden on businesses and households that are expected to be affected by the COVID-19 outbreak.

KUALA LUMPUR (March 16): Prime Minister Tan Sri Muhyiddin Yassin has announced the members of the Economic Action Council (EAC) following the council’s inaugural meeting today, comprising government officials and prominent private sector figures.

KUALA LUMPUR (March 6): CIMB Bank Bhd and CIMB Islamic Bank Bhd are reducing their base rate and fixed deposit rate/fixed return income account-i board rates by 25 basis points, in line with the overnight policy rate cut announced by Bank Negara Malaysia on Tuesday.