KUALA LUMPUR (Sept 25): The global banking system is well placed to absorb the economic shocks triggered by the coronavirus, but a second wave of the virus, leading to new blanket lockdowns or self-imposed changes in consumers' behaviour, poses a significant threat, Moody's Investors Service said in a report yesterday.
KUALA LUMPUR (Aug 12): Banks in the country are capable of extending the targeted moratorium period from October to December 2020, as they have adequate buffers.
PUTRAJAYA (Aug 5): The Finance Ministry has advised individual borrowers burdened with unpaid instalments due to the economic impact of Covid-19, to deal with their respective banks without delay from Aug 7 for extension of the moratorium on their loans.
KUALA LUMPUR (June 5): Besides loan moratorium, banks are offering an additional RM2 billion under the Penjana SME Financing to assist SMEs adversely impacted by Covid-19.
MoF: Banks to waive interest/profit charge for HP loans, fixed rate financing during moratorium period
KUALA LUMPUR (May 6): The Ministry of Finance (MoF) has reached an agreement with the banking industry to waive additional interest or profit charges for hire purchase (HP) loans and Islamic fixed-rate financing for the six-month moratorium period in conjunction with the Covid-19 pandemic.
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): Eleven members of the Association of Banks Malaysia (ABM) will contribute RM10 million to fight against the COVID-19 pandemic.
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 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.