Alliance Bank Malaysia Extends Payment Relief Assistance For Customers

Alliance Bank Malaysia Berhad has extended its Payment Relief Assistance (PRA) packages to assist more individuals and businesses facing cashflow constraints due to the Covid-19 pandemic.

Individuals who have lost their jobs or whose income have been affected by the pandemic may apply for the Bank’s Payment Relief Assistance to support themselves.

Additionally, the bank  has also extended similar support to businesses experiencing reduced business revenue and there will be no impact on the customers’ Central Credit Reference Information System (“CCRIS”) record for those who apply the Bank’s Payment Relief Assistance package before December 31 2021.

Joel Kornreich, Group Chief Executive Officer of Alliance Bank said, “Our key priority is to continue helping our customers to weather the effects of this pandemic. We urge customers facing financial challenges to contact us as soon as possible to discuss a suitable relief package to ease their financial commitment.”

To enable an easy transaction, the bank has launched a WhatsApp business account to provide a quicker response to customer queries about the PRA and simplified the application process.

Alliance Bank has so far approved over RM7 billion in loan modifications and moratoria, with a 95 percent approval rate. It has disbursed more than RM600 million from the Special Relief Fund and RM120 million from the Bank Negara Malaysia’s Targeted Relief and Recovery Facility.

As part to intensify its non-financial support, Alliance Bank brings initiatives such as #SupportLokal and the BizSmart Solution portal. The #SupportLokal initiative helps fast-track the listing of local businesses’ products and services on popular e-commerce sites through partnerships with Shopee, Pybli and Air Asia OURSHOP.

The BizSmart Solution portal helps accelerate business owners to digitise their business, access relevant business solutions and resources as well as manage operational expenses.

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