The loan repayment moratorium was valued at RM89.6 billion as of September 11, Finance Minister Tengku Zafrul Abdul Aziz said.

“Of this amount, RM31.4 billion benefitted businesses while RM58.2 billion benefitted individuals,” he said in presenting the 22nd Laksana (Unit for the Implementation and Coordination of National Agencies on the Economic Stimulus Package) report today.

Banks have contacted over two million borrowers comprising individuals and organisations, including small and medium enterprises (SMEs), to offer loan repayment assistance.

The blanket moratorium is set to expire on September 30 and banking institutions are ready to continue to providing assistance to borrowers who are still affected by the Covid-19 outbreak, in the form of a loan moratorium extension and targeted assistance from October 1.

The initiatives are aimed at ensuring access to financing for businesses and households which are in need of assistance. – Bernama, September 22, 2020.