KUALA LUMPUR – Islamic banking institutions in Malaysia have approved financial assistance of not less than RM980 billion in various forms as at December 2021.
The Association of Islamic Banking and Financial Institutions Malaysia (Aibim) said the financial assistance included deferred financing, reduction of monthly financing, and restructuring of financing payment instalments to bank customers affected by Covid-19 and floods.
In addition, it said about RM1.3 billion has been channelled through contributions from corporate social responsibility initiatives and other assistance by Aibim member banks.
All the assistance programmes have benefited 2.7 million people and customers.
“This clearly shows that Aibim member banks are sensitive in carrying out their corporate responsibilities and play an important role in achieving the objectives of the country’s economic recovery.
“The commitment from Aibim member banks has already been shown through the data collected by Aibim for 2021.
“The contribution in the form of zakat is estimated at RM36 million for the period of October 2020-September 2021 which has been channelled by Islamic banking institutions,” Aibim executive director Ratna Sha’erah Kamaludin said in a statement today.
She said Aibim and its member banks remained committed and proactive in assisting and providing continuous support to their customers to weather the challenges since the beginning of the pandemic.
It is one of the measures and efforts to support economic recovery as the country transitions into the endemic phase, she added. – Bernama, March 24, 2022
