KUALA LUMPUR, March 27 (Bernama) — Bank Muamalat Malaysia Berhad (“Bank Muamalat”) will automatically defer or suspend all financing payments for a period of six months for individual customers, small and medium-sized enterprises (SMEs) effective April 1, 2020. This move is to provide assistance to customers which may be financially impacted by the COVID-19 outbreak and by the accompanying Movement Control Order (MCO).
Chief Executive Officer of Bank Muamalat, Encik Khairul Kamarudin said, Bank Muamalat welcomes and fully supports Bank Negara Malaysia’s announcement that it has ordered all banks to grant an automatic six-month moratorium (deferment) of all loan/financing repayments. The moratorium shall also be applicable to those who have previously accepted Bank Muamalat’s COVID-19 moratorium or applied to reschedule and restructure their financing obligations. For those who do not wish for the moratorium shall opt out by filling in the Service Request Form (The Form). The Form and Bank Muamalat frequently asked questions (FAQs) may be obtained at Bank Muamalat website.