KUALA LUMPUR – The government will be offering a three-month interest exemption to affected borrowers in the B50 group through the introduction of its financial resilience and management Urus programme.
In a statement today, Prime Minister Datuk Seri Ismail Sabri Yaakob said the facility is a loan repayment support measure that will be implemented by the banking sector in the near future.
Ismail Sabri said the comprehensive programme will be offered to affected B50 borrowers, including those in the B40 household category who earn a gross household income below RM5,880 a month.
“Other facilities being offered include a reduction of instalment payments for up to 24 months, including a lower interest rate.
“During this period, clients with loans, financing, and personal credit cards without guarantees are also eligible for reduced interest rates to help lighten their financial burden,” the Bera MP said.
He added that the Urus programme was formulated by the banking sector with Bank Negara Malaysia and the Credit Counselling and Debt Management Agency.
Further details on the programme will be provided by the Finance Ministry.
“This initiative by the banking sector clearly reflects the Keluarga Malaysia spirit and complements the government’s efforts to assist B50 borrowers who have previously benefited from the moratorium programme announced under the government’s assistance and stimulus packages since March 2020.
“The government hopes that with this whole-of-nation approach and united effort, we can realise our goal of making Malaysia a prosperous, inclusive, and sustainable nation,” he added. – The Vibes, October 13, 2021
