Targeted moratorium not realistic, says NUBE

An extension of the blanket moratorium for three months will only amount to deferred payments for loans of about RM6 billion, a fraction of the RM32 billion after-tax profit banks are expected to reap for 2019. – The Malaysian Insight file pic, October 17, 2020.

PUTRAJAYA and financial institutions should stop saying the current targeted moratorium is adequate in arguing why there is no need to reinstate the blanket moratorium which ended last month, said a bank employees’ union.

National Union of Bank Employees (NUBE) general-secretary J. Solomon called the notion “a complete fallacy” and said the argument cannot be further from the truth.

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