Bank Negara Malaysia (BNM) will provide an additional RM5 billion in financing for small and medium enterprises (SMEs) affected by the conflict in West Asia, doubling the facility to RM10 billion.
Prime Minister Datuk Seri Anwar Ibrahim said the central bank had initially provided RM5 billion in financing following the conflict, with strong demand prompting the additional allocation.
Separately, banks have begun offering basic credit cards with annual interest rates capped at 14% to ease borrowing costs for consumers.
Anwar acknowledged Alliance Bank, Maybank and CIMB for offering the facility.
