With Covid-19 surge currently being experienced by the country seeing no sign of abating, many SME’s who were already struggling during MCO will now be in more dire need of assistance. Respite came in the form of the government moratorium and aid which has since been redesigned for targeted needs.
Bank Muamalat Malaysia one of the financial institution delivering the targeted payment assistance has assured customers that it will continue to offer the support for customers who are facing financial difficulties.
Chief Executive Officer, Khairul Kamarudin said the Bank will continue to provide flexibility and extend temporary relief to customers who are facing difficulties in making financing payments, as a result of the ongoing movement curbs and current uncertainties.
“As at 21 October 2020, 83% of applications for payment assistance from individual customers and 100% of applications for payment assistance from Small and Medium Enterprises (SME) customers have been approved,” said Khairul.
Customers who earlier declined the targeted payment assistance but are now facing loss of income and reduced income due to the movement restrictions are encouraged to apply for the targeted payment assistance, which includes restructuring and rescheduling of payments.
In view of the current movement restriction order, Bank Muamalat is encouraging customers who wish to apply for the targeted payment assistance to fill in the Post Moratorium Payment Assistance application form available at its website.