News about ban

KUALA LUMPUR (March 25): Hong Leong Bank Bhd and Hong Leong Islamic Bank Bhd have offered their customers the option of converting their credit card balances into a three-year loan at an effective interest or profit rate of 13% per annum.

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) is likely to introduce additional relief measures to ease borrowers affected by by the COVID-19 outbreak.

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 24): Malayan Banking Bhd (Maybank) is temporarily closing about 130 branches and service centres out of a total of more than 350 until March 31 during the movement control order (MCO).

KUALA LUMPUR (March 22): Passengers of a bus travelling from Seremban to Sungai Petani on March 16 has been called upon to contact the Kulim district health office “immediately”.

KUALA LUMPUR (March 20):  The government has actually already banned the export of face masks effective March 18 in light of the COVID-19 situation in the country, says the Domestic Trade and Consumer Affairs Ministry.

KUALA LUMPUR (March 20): Bank Negara Malaysia (BNM) has announced a 100-basis-point cut in the statutory reserve requirement (SRR) ratio from 3% to 2%, effective March 20.