Bank Islam Malaysia Berhad (“Bank Islam”) is currently assisting 108,936 accounts with a total outstanding financing amount of almost RM12.63 billion under its PEMULIH Repayment Assistance (“PRA”) package since its rollout on 7 July 2021. The numbers consist of 108,846 individual accounts with an outstanding financing amount of RM12.6 billion and 90 applications from
Microenterprises and Small and Medium Enterprises (“SME”) customers involving RM29.43 million. In supporting the Government’s Perlindungan Rakyat dan Pemulihan Ekonomi (“PEMULIH”) package, PRA allows eligible customers to choose either a 6-months
moratorium or 50% monthly instalments reduction for six months.
Application is open for customers from the B40, M40 or T20, the Microenterprises and SME segment affected by the ongoing pandemic. The application under PRA is still open until further notice.
Bank Islam’s Chief Executive Officer, Mohd Muazzam Mohamed, said, “We welcome the measures introduced by the Central Bank and Islamic banking industry in mitigating the adverse impact of COVID-19 to the livelihood of the rakyat. The repayment assistance will temporarily relieve their financial constraints and allow customers a breathing period to reassess their financial standing.”
Besides PRA, Bank Islam also offers customised Rescheduling and Restructuring programmes to accommodate customers’ needs for a suitable payment plan. In addition to that, eligible SMEs are also provided with the PENJANA Tourism Fund (“PTF”) for customers in the tourism sector; and the Targeted Relief and Relief Facility (“TRRF”) for customers in the services sector. Recently, the Bank introduced the Automation and
Digitalisation Facility (“ADF”) for SMEs looking for incentives to automate their processes and digitalise operations for better efficiency. Bank Islam also offers the BIC-i Balance Conversion (BBC) Programme for credit cardholders who seek temporary financial relief.
The eligible Bank Islam Credit Card-i card members may convert the principal amount of outstanding statement balances
into an instalment plan under term financing at an effective profit rate of 13% p.a. for 36 months.
Echoing the statements from BNM, the Bank assures its customers that their Central Credit Reference Information System (“CCRIS”) record will not be affected should they opt-in for payment assistance.