Selangor Journal
People following social distancing measures wait in line to use ATM machines at a Maybank branch in Kuala Lumpur, on September 9, 2020. — Picture by REUTERS

Repayment assistance continues to be available — Banks association

KUALA LUMPUR, May 12 — The Association of Banks in Malaysia (ABM) reiterated today that its member banks continue to make available repayment assistance to affected borrowers as announced previously.

Up to March 26, 2021, approximately 1.6 million applications for repayment assistance have been received, out of which 95 per cent were approved, of which 55 per cent of the approved applications were given an extension of the loan repayment deferment, while the balance 45 per cent were given reduction in instalments.

Borrowers who are in need of assistance are encouraged to contact their banks early to discuss repayment assistance options. As mentioned by Bank Negara Malaysia, borrowers’ Central Credit Reference Information System (CCRIS) records will not be affected by assistance received for the rest of 2021.

Borrowers may contact their banks through various channels including online via the banks’ websites, through the banks’ mobile apps, over the phone or at bank branches, ABM said in a statement here today.

Borrowers intending to visit the bank branches are advised to check on their respective banks’ websites for information on any changes in operating hours or arrangements for over-the-counter services in view of the continuing restrictions owing to the pandemic.

For quick access to ABM member banks’ contact information, borrowers may visit ABM’s website, www.abm.org.my/assistance-for-eligible-borrowers-affected-by-covid-19 .

Borrowers may contact Agensi Kaunseling dan Pengurusan Kredit (AKPK) at services.akpk.org.my/ to seek guidance and explore other options for assistance. Borrowers who are still facing difficulties after consultation with their banks can contact BNMTELELINK at telelink.bnm.gov.my/.

— Bernama

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