Loan moratorium to cost banking sector RM6.4 billion


Ragananthini Vethasalam Kamles Kumar

For each month the loan moratorium is in force, the banking sector loses RM1.06 billion. – AFP pic, July 27, 2020.

THE banking sector will rack up RM6.4 billion losses as a result of the six-month moratorium on loans, which ends in September, said Finance Minister Tengku Zafrul Tengku Abdul Aziz.


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Comments


  • Come on... these are not actual losses i.e. bad debts which are unrecoverable. These are mere accounting entries to follow accounting standards. When customers resume paying, banks will reverse these entries.

    Posted 2 months ago by Malaysia Baru 09052018

  • The minister is more concerned about his banks than the welfare of the rakyat. Time he was sent bank to the banking sector where he rightfully belongs.

    Posted 2 months ago by Simple Sulaiman