KUALA LUMPUR – Thirteen banks have responded to the national call for moratorium assistance and flood aid relief, especially for those affected by the floods.
Since Monday, Affin Bank Bhd, RHB Bank Bhd, Public Bank Bhd, Malayan Bank Bhd, Bank Simpanan Nasional Bhd, Bank Muamalat Malaysia Bhd, CIMB Bank Bhd, Bank Islam Malaysia Bhd, Alliance Bank Malaysia Bhd, Hong Leong Bank Bhd, SME Bank Bhd, OCBC Bank Bhd and Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat) have rendered financial aid to customers affected by the natural disaster, with the number of evacuees reaching 48,000.
The banks are offering loan moratorium for up to six months, with some providing deferment of loan instalment and waiver of late payment charges.
Affin Bank, CIMB, Hong Leong, OCBC and Bank Rakyat have donated a total of RM1.6 million to government agencies and non-governmental organisation.
The massive floods have affected six states, namely Kelantan, Terengganu, Perak, Pahang, Johor and Sabah.
The nationwide state of emergency declaration on Tuesday has also prompted the Credit Guarantee Corporation, Credit Counselling and Debt Management Agency, General Insurance Association of Malaysia and Life Insurance Association of Malaysia to offer assistance.
In a statement, the General Insurance Association assured victims – who have floods covered under their general insurance policy – that it will hasten their claim processes, and pay out claims against losses caused by the flood situation.
“Member companies are committed to expedite flood claims settlement by reaching out to claimants, and are prepared to waive claim forms and supporting documents for a shorter turnaround time.” – Bernama, January 15, 2021
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