Almost 100% approval for moratorium extensions by banks, says Muhyiddin

Prime Minister Muhyiddin Yassin says government will continue to ensure financial institutions help the people and businesses during this trying period.

KUALA LUMPUR: Up to 98% of applications for moratorium extension and targeted bank assistance have been approved, Prime Minister Muhyiddin Yassin said today.

“In July, I announced a moratorium extension and targeted bank assistance.

“As at Sept 11, financial institutions have had discussions with over 1.4 million borrowers, and over 380,000 borrowers have confirmed they need such assistance,” he said when delivering the Kita Prihatin special address today.

Muhyiddin said the government would continue to monitor the latest developments and would ensure financial institutions play a role in helping the people and businesses in need of assistance to face this challenging period.

He urged members of the public who have not submitted their applications to contact their respective banks.

To ease the burden on businesses and households affected by the spread of Covid-19, the government had in April announced a deferment of loan repayments, including for mortgage loans and hire purchases, for a six-month period.

This moratorium programme is due to expire at the end of September.

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