November 28, 2023

New Malaysia Times

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Bank Islam offers moratorium to flood victims for up to six months

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KUALA LUMPUR, March 8 — Bank Islam Malaysia Berhad (Bank Islam) is offering flood victims a moratorium of up to six months, subject to the terms and conditions set by the bank.

Bank Islam said the moratorium applies to those who have housing loans, personal loans and vehicle hire purchase loans while affected micro, small and medium-sized (MSMEs) businesses can also apply for the moratorium offered. 

Under this facility, eligible e-micro-enterprises can apply for financing of up to RM150,000, while the financing size for SMEs is RM700,000 with a tenure of seven years, including a moratorium of six (6) months.

bank islam

“The moratorium is also made available to Bank Islam’s existing MSME customers while financial assistance is open to all credit facilities with scheduled or contractually due payments, specifically the Term Financing Facilities, Revolving Credit & Cash Line Facilities and Trade Facilities,” said Bank Islam in the statement.

The statement added that Bank Islam also offers to waive fees and charges for replacing debit-i cards and cheque books that are damaged in the floods plus offer Disaster Relief Funds (DRF) to ease the financial burden of clients and help them recover and return to their normal businesses.

“Applications for the DRF can be made at the nearest branch for operations that resume within three months of the disaster,” said the bank in the statement.

Customers can gather more information about the various assistances offered by surfing the website.

Customers can also contact Bank Islam’s call centre at [email protected] or 03- 26 900 900 for more information and inquiries or sent email to [email protected].

NMT as reported by Bernama