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KUALA LUMPUR: The value of the loan moratorium on repayments of loans to financial institutions that came into effect on April 1 is estimated at RM81.9 billion as of August 28, 2020, says Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz (pix).
He said that of the total amount, the business sector used RM28.6 billion and the remaining RM 53.3 billion by individual borrowers.
“A total of 732,000 borrowers who took the automatic forbearance have resumed their monthly loan repayment installments compared to 336,000 borrowers in April 2020,” he said today in the latest LAKSANA report.
Tengku Zafrul said that as of August 28, banks have contacted more than 2.0 million borrowers including individuals, small and medium-sized enterprises (SMEs), and other businesses, including corporate entities and commercial companies, to offer loan repayment assistance.
He said that with the expiration of the loan moratorium on September 30, banking institutions are ready to continue providing assistance to borrowers still affected by the COVID-19 outbreak, in the form of an extension of the loan moratorium. and specific assistance as of October 1.
The initiatives aim to ensure access to finance for businesses and households that really need assistance, he said.
As commercial manufacturing of a COVID-19 vaccine will take time, the country’s banking system must remain robust and resilient to be ready for any future eventualities, he added.Named
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