The banking association said customers experiencing financial difficulties should reach out early to their respective banks to explore available options.

“Support has always been available for those with genuine needs, and banks will continue to review each situation with care, understanding and flexibility,” it said in a statement today.

ABM said assistance may include repayment arrangements and tailored solutions to manage short-term pressures while safeguarding long-term financial well-being.

Tensions in the Middle East have escalated since Feb 28 after Israel and the US struck Iran, which responded with retaliatory strikes against Israel and US interests in Gulf countries.

Iran closed the Strait of Hormuz following the strikes, choking a key energy passage and triggering a spike in oil and gas prices that has led to inflationary fears across the globe.

Yesterday, transport minister Loke Siew Fook said while most Malaysians may not yet feel the conflict’s full impact on their daily lives, the situation should not be taken lightly as it has persisted for over a month and continues to escalate.

He noted that even though Malaysia is an oil-producing country, it remains dependent on global markets and external supply chains.

Communications minister Fahmi Fadzil also said today that Putrajaya has established a communications command centre to provide official updates on its response to the global energy crisis.

He said the centre was approved at today’s Cabinet meeting and will operate under the National Economic Action Council, chaired by deputy prime minister Fadillah Yusof.