BANKS have agreed to give six months’ loan moratorium to flood victims, said Finance Minister Tengku Zafrul Tengku Abdul Aziz.

He said the nation is still experiencing the monsoon season that has now affected more states including Selangor, Pahang, Johor, Kelantan, Terengganu, Perak, as well as Sabah and Sarawak.

“Recently I was informed that several banks have agreed to provide loan repayment assistance to the flood victims, including the extension of loan repayment moratorium for up to six months.

“We welcome such efforts, which are much needed from across the private sector in helping reduce the burden of the rakyat and businesses, especially in the current situation,” he said in a statement. 

He also said that the government will ensure the assistance needed will reach those who are impacted by the adversity. 

“We need to join hands and play our respective roles to help our economy rebound and recover.”

On the movement-control order (MCO), conditional MCO and recovery MCO, Zafrul said that he wants to reassure Malaysians and investors that multiple sectors of the economy and the financial ecosystem remain open, in accordance with the stipulated SOP. 

“You can still go to banks and financial institutions to manage your savings and investments as per usual.

“The government and its related agencies will facilitate and ensure market conditions remain conducive and orderly during this period. 

“And I assure you that our financial ecosystem is resilient, well-managed and well-regulated.”

He added that in terms of businesses and the economy, key manufacturing and services sectors, as well as their supply chain, are allowed to operate.

“The government would also like to reassure the public that supply of essential goods is sufficient, to enable key economic activities to continue.

“For micro and small enterprises, stalls are also allowed to operate during this period, albeit with stricter SOP; customers can only buy via takeaway.”

Zafrul said the ministry would do its best to protect the rakyat’s livelihood. 

“I understand that we are facing unprecedented circumstances. The government has repeatedly proven that we will not compromise in ensuring the rakyat’s well-being, business continuity and economic resilience.” – January 14, 2021.