BANKS should be more understanding of the plight of Malaysians during the Covid-19 pandemic, said Prime Minister Muhyiddin Yassin.

He urged banks to explore other avenues other than the moratorium to ease the burden of Malaysians. 

“There are still those who demand extension of the moratorium period, the governor of Bank Negara informed me in yesterday’s meeting, more than 98% of those eligible have registered.

“But, maybe those who can’t (qualify) need more help.

“So, I ask the banks to give consideration to reduce the pressure to help them,” Muhyiddin said in a town-hall session where he announced the Shared Prosperity Vision 2030 (WKB).

He added the government alone cannot be tasked to take care of people’s welfare but that banks and the private sector should also play a role. 

“There have been complaints that loans are not being approved. This is a matter we should look into. How to resolve this, there is no easy answer,” Muhyiddin said.

The Bersatu president added banks should ease up terms for people who want to apply for loans, especially during this pandemic period. 

“There needs to be more affordable housing. There needs to be demand to banks for loans. They have their own politics but if it’s stringent it will cause a problem,” Muhyiddin said.

Previously,  Muhyiddin said on July 29 the government would extend the loan moratorium for individuals and SMEs on a targeted basis. – September 29, 2020.