KUALA LUMPUR – Bank borrowers having difficulties with loan repayments should approach their banks to discuss financial assistance measures such as rescheduling and restructuring to help alleviate some of the strain on their cash flow position.
Member banks of The Association of Banks in Malaysia (ABM) yesterday reassured the public that they remain committed to providing financial assistance to borrowers facing financial hardships.
“The banks are fully supportive of the call by Prime Minister Datuk Seri Anwar Ibrahim for banks to offer rescheduling and restructuring to individuals and small and medium enterprises (SMEs) in need,” it said in a statement yesterday.
ABM said borrowers in need of financial assistance are advised to contact their respective banks through their banks’ official channels as soon as possible to discuss suitable financial repayment options.
Alternatively, borrowers in need may seek help from the Credit Counselling and Debt Management Agency under the Debt Management Programme for individuals or the Small Debt Resolution Scheme for SMEs.
Customers are reminded to be wary of scammers and only apply for financial assistance via official channels.
Bank customers are also advised not to deal with third parties claiming to be agents or representatives of the banks on matters relating to repayment assistance. Banks do not appoint or engage third parties or agents for this purpose, the statement said. – Bernama, July 7, 2023
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