{"id":3740,"date":"2020-05-01T12:47:15","date_gmt":"2020-05-01T04:47:15","guid":{"rendered":"https:\/\/newmalaysiatimes.com\/?p=3740"},"modified":"2020-05-01T12:47:15","modified_gmt":"2020-05-01T04:47:15","slug":"bank-negara-clears-out-confusion","status":"publish","type":"post","link":"https:\/\/newmalaysiatimes.com\/?p=3740","title":{"rendered":"Bank Negara clears out confusion"},"content":{"rendered":"<div class=\"col-sm-12 col-md-12 col-lg-12 mt-4 px-sm-0 px-md-5 px-lg-15 text-dark text-justify\">\n<p>KUALA LUMPUR, May 1\u00a0 &#8211; Bank Negara Malaysia (BNM) regrets the confusion that arose from\u00a0misperception, which is to\u00a0some extent\u00a0caused by an illustration provided in its\u00a0earlier\u00a0version of frequently asked\u00a0questions (FAQs), where certain assumptions and caveats were made.<\/p>\n<p>\u201cWe sincerely regret any confusion and anxiety that this announcement may have caused.\u00a0The deferment of loan repayments is meant to ease cash flows for borrowers\/customers affected by the COVID-19 pandemic. This intent remains the same.<\/p>\n<p>\u201cWe later removed the illustration when financial institutions\u00a0provided their own. Our illustration was not intended to preclude interest charges accrued on the deferred loans,\u201d the central bank said.<\/p>\n<\/div>\n<div class=\"col-sm-12 col-md-12 col-lg-12 mt-4 px-sm-0 px-md-5 px-lg-15 text-dark text-justify\">\n<p>The confusion arose\u00a0because of the misperception that the repayment amounts for a hire purchase (HP) loan cannot be changed, it said in a list of FAQs\u00a0released today on\u00a0the six-month payment deferment for hire- purchase (HP) and fixed rate Islamic financing.<\/p>\n<p>Borrowers\/customers who have had their HP loans and fixed-rate Islamic financing accounts automatically deferred since\u00a0April 1, 2020 will continue to benefit from the payment deferment until Sept\u00a030, 2020.<\/p>\n<p>HP loan and fixed-rate Islamic financing borrowers\/customers who initially accepted the moratorium but have since changed their mind can still opt out of the deferment, it added.<\/p>\n<\/div>\n<div class=\"col-sm-12 col-md-12 col-lg-12 mt-4 px-sm-0 px-md-5 px-lg-15 text-dark text-justify\">\n<p>In its announcement on March 25, BNM\u00a0had advised\u00a0borrowers that interest\/profit will continue to accrue on deferred payments and they should consider this in deciding whether they wish to take up the moratorium.<\/p>\n<p>&#8211; BERNAMA<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>KUALA LUMPUR, May 1\u00a0 &#8211; Bank Negara Malaysia (BNM) regrets the confusion that arose from\u00a0misperception,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":3741,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7574,17],"tags":[],"class_list":["post-3740","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-covid19","category-economy"],"featured_image_urls":{"full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/05\/default_bnm.jpg",760,520,false],"thumbnail":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/05\/default_bnm-150x150.jpg",150,150,true],"medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/05\/default_bnm-300x205.jpg",300,205,true],"medium_large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/05\/default_bnm.jpg",640,438,false],"large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/05\/default_bnm.jpg",640,438,false],"1536x1536":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/05\/default_bnm.jpg",760,520,false],"2048x2048":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/05\/default_bnm.jpg",760,520,false],"newsium-slider-full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/05\/default_bnm.jpg",760,520,false],"newsium-featured":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/05\/default_bnm.jpg",760,520,false],"newsium-medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/05\/default_bnm.jpg",694,475,false]},"author_info":{"info":["Editor"]},"category_info":"<a href=\"https:\/\/newmalaysiatimes.com\/?cat=7574\" rel=\"category\">COVID19<\/a> <a href=\"https:\/\/newmalaysiatimes.com\/?cat=17\" rel=\"category\">Economy<\/a>","tag_info":"Economy","comment_count":"0","_links":{"self":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/3740","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3740"}],"version-history":[{"count":1,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/3740\/revisions"}],"predecessor-version":[{"id":3742,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/3740\/revisions\/3742"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/media\/3741"}],"wp:attachment":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3740"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3740"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3740"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}