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KUALA LUMPUR: Bank Islam Malaysia Bhd specific reimbursement assistance for clients affected by job loss or monthly salary reduction remains available until June 30, 2021.
The bank says it is committed to helping its clients through today’s difficult times, particularly after the recent surge in positive COVID-19 cases across the country.
In addition, Bank Islam offers rescheduling and restructuring options for clients who are unaffected by job losses or facing reduced monthly income but need to rethink their finances.
“We have consistently reached out to our commercial banking clients who need a more personalized plan to service their financing since the start of the automatic moratorium in April 2020,” Chief Executive Officer Mohd Muazzam Mohamed said in a statement.
To date, he said, the bank’s approval rate for commercial banking customer applications remains at nearly 100 percent.
Meanwhile, for retail clients, we have approved 100% of the total applications received with full supporting documents, of which 43% were approved with a deferral plan of three more months and the remaining 57% were approved with a reduction of six months plan. “
He said the bank is also actively engaging with affected customers who have not yet submitted the required supporting documents for their request for specific payment assistance.
“We have also streamlined the process to help those in need. We are aware that there are customers who may continue to experience cash flow pressures amid the pandemic and need more support to manage their finances.
“Bank Islam is always open to discuss and provide our best financial solution offers to help them overcome these difficulties,” he said.
Mohd Muazzam said the bank is proactively reaching out to potentially vulnerable customers, especially in sectors such as tourism, hospitality and airlines, which have been hit hard by COVID-19.
“As of today, 98 percent of Bank Islam clients have resumed servicing their funding commitment after September 2020. Reimbursements ensure that Bank Islam will have more liquidity and resources to continue providing assistance to others. and companies.
“Bank Islam ensures that ongoing banking services will continue to be accessible through virtual and online banking platforms during the period of the Conditional Movement Control Order (CMCO) to meet customers’ banking needs,” he added.
Alternatively, customers can call the bank’s Contact Center on 03-26 900 900 or visit www.bankislam.com/COVID-19 to request the bank’s post-moratorium payment assistance or for more information. – Bernama
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