Bank Negara Grants Grace Period for Loans
Starting 1 April 2020 for six months, Bank Negara is granting an automatic moratorium on all loan or financing payments for individuals and small and medium-sized enterprise (SME) borrowers. This is part of the bank’s new measures to assist borrowers experiencing temporary financial constraints due to the COVID-19 outbreak.
Bank Negara is also working on measures to help households and businesses. On top of that, the bank will continue to provide daily ringgit liquidity to banking institutions through its open market operations – this includes requirements on lending to the broad property sector, which will be uplifted with immediate effect.
Source: The Star
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