In unison with corporate agencies and financial institutions, Agrobank is also reaching out to support flood victims by providing flood relief support and will mobilise its rescheduling and restructuring of moratorium up to 6 months for qualified customers.
The bank plans to extend the offer to customers affected by the floods in Pahang, Kuala Lumpur, Selangor, Negeri Sembilan and other affected states nationwide.
According to Khadijah Iskandar, Acting CEO, “The relief assistance aims to alleviate and lessen the financial burden faced by Agrobank customers impacted by the floods. Based on the recent announcement by Bank Negara Malaysia, Agrobank will also be providing financial aid to micro and small and medium enterprises affected by the recent floods under the Disaster Relief Facility 2022 amounting RM200million (shared with other commercial and Islamic banks and DFIs),” said Khadijah Iskandar.
“We understand that some customers require time to develop their new plan and recover. The moratorium period and R&R programme will facilitate their recovery process. For eligible customers, they may apply for additional facilities too to rebuild their business. Our team will reach out to those in need,” added Khadijah Iskandar.
The flood relief assistance is designed to address the challenges of the flood victims which include, moratorium of financing – for customers who lost source of income and projects damaged can be considered to deferment of monthly installments up to 6 months. The restructuring or rescheduling (R&R) of financing for qualified customers affected by the flood disaster. And waiver of charges for affected customers seeking replacement of ATM cards and passbooks which were destroyed in the floods.
Under the Disaster Relief Facility 2022, interested parties can receive financing up to RM500,000 per SME and RM75,000 per micro-enterprise with financing rate of 3.5% per annum, inclusive of guarantee fee (available from 27 December until RM200 million is fully utilised).
