We understand that some of you may be affected by the Covid-19 outbreak. Following YAB Prime Minister’s announcement on 29 July 2020 pertaining to three-month loan/ financing moratorium extension and assistance to targeted groups as a result of the Covid-19 pandemic, Maybank Islamic Berhad (“MIB”) has made available an automatic moratorium extension for 3 months effective 1 October 2020 to 31 December 2020. The tenure extension is offered to further ease your financial burden with a more manageable monthly instalment for a longer period, after the 3-month deferment ends. The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) on January 7 (Thursday), again demanded that the government to extend the moratorium on the salary stimulus package by six months and the repayment tenure by one year as exporters are seeking the extensions to cope with the pandemic’s fallouts. Any further extension is subject to our Bank’s Loan / Financing Payment Assistance program approval criteria, taking into consideration the current salary or income levels of the affected customers at the point of application. Exporters are seeking extensions on both moratorium and repayment period for loans accrued from a government sponsored stimulus package aimed at helping them cope with the pandemic's fallouts. “Bank Islam is in a strong position to help. Moratorium Extension Program? He said the bank to date only saw 11,000 to 12,000 applications for moratorium extension, which was much lower than anticipated, and expect more … The extension will lead to an increase in the banks’ NPL although it will not be alarming By ASILA JALIL THE extension of repayment assistance offered by banks including the existing targeted moratorium due to the reimposition of the Movement Control Order (MCO) in several states and the federal territories, will have minimal impact on […] KUALA LUMPUR (Jan 18): The Association of Banks in Malaysia (ABM) and the Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) said banks will continue to extend repayment assistance, including an extension of the existing moratorium where applicable, to individuals affected by the current movement control order (MCO). However, the bank encouraged its customers to apply by 31 August instead so that their application can be approved before the current moratorium ends on 30 September. BANK Islam Malaysia Bhd is encouraging those who need an extension to their loan moratorium to contact their respective banks. At the same time, Sadaqa House presented a three-year financial aid to Muhammad Fayyadh Haziq Abdul Aziz, an engineering student from SEGI College. Email: HLonline@hlbb.hongleong.com.my. He said the bank has initiated contact with all its customers via text messages and periodical updates across different communication platforms. The moratorium is subject to the conditions set under the bank’s House Financing, Personal Financing and Vehicle Financing facilities. Published 1 Jan 2021, 4:13 am. Please take note that Option 1 or Option 2 is subject to approval by the Bank. Temporary extension of expired HSBC/HSBC Amanah Debit Card/-i. Throughout the Movement Control Order (MCO) period, moratorium assistance and loan repayment reduction will continue to be provided. ... Bank Islam ready to accept applicants for enhanced targeted repayment assistance. a) It is an extension of loan/financing payment deferment program for a period of three (3) months from 1 October 2020. b) This program is implemented to assist the borrowers/customers who opted for the six (6)-months moratorium program from 1 April 2020 to 30 September 2020 and with the following criteria: i. We are worried that if customers are late, the application process would take a longer time, ” he said on Tuesday. “For those who do not need the extension, they do not have to respond and will resume to pay starting October,” he told reporters in Kuala Lumpur today. Report any suspicious activity at 03-26 900 900. Mohd Muazzam said Bank Islam have also opened 10 branches on two consecutive Saturdays (Sept 12 and 19) to facilitate customers who need repayment/financing assistance post moratorium. Its CEO Mohd Muazzam Mohamed said following the Prime Minister’s announcement to implement the extension of a targeted moratorium, Bank Islam has recently contacted all 380,000 of its customers via SMS. “From that figure, the number of those who have responded is less than 10%, perhaps because many have not yet decided. In his special aid package (PERMAI) announcement today (18 January), Prime Minister, Tan Sri Muhyiddin Yassin announced regarding the moratorium assistance that most Malaysians have been waiting for. The programme aims to provide complete nutritional food assistance to students from low-income families. Bank Islam Malaysia Bhd chief economist Dr Afzanizam Abdul Rashid said the moratorium extension shows that the Government is trying to strike a delicate balance between supporting the need of the affected groups and the health of banks’ finances, which is also crucial to the Malaysian economy. at Money | News. 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