11 member banks of ABM donate RM10m to fight COVID-19
KUALA LUMPUR (March 27): Eleven members of the Association of Banks Malaysia (ABM) will contribute RM10 million to fight against the COVID-19 pandemic.
COVID-19 to place Malaysian economy into technical recession, says AmBank
KUALA LUMPUR (March 26): AmBank Group Research said the coronavirus-induced recession is expected to place both the global economy as well as the Malaysian economy into technical recession.
COVID-19: Hong Leong Bank cardholders can convert balance to three-year loan at 13% per annum
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.
ABM: Banks working out the details to roll out loan moratorium
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.
MTUC welcomes BNM’s six-month moratorium on loan repayments
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.
BNM likely to introduce additional relief measures for borrowers
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.
BNM allows banks to tap into capital buffers amid COVID-19
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.
BNM announces automatic six-month moratorium on all bank loans, but not credit card balances
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.
Maybank temporarily closes low-traffic branches during MCO
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).
No more exports of face masks, says Putrajaya
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.
