Bank Islam expands financial relief for customers impacted by Covid-19

Bank Islam Malaysia Bhd has expanded its financial relief programme for customers impacted by Covid-19, which includes a moratorium for financing repayments of up to six months.

This is on top of the standard rescheduling and restructuring financing programmes offered to all affected individual and business customers as announced by the bank earlier on Feb 11.

Bank Islam's business customers and eligible small and medium-sized enterprises can apply for up to RM1 million in financing with a tenure of up to 5.5 years and a moratorium of up to six months at a financing rate of 3.75 percent per annum.

In a statement today, Bank Islam’s chief executive officer Mohd Muazzam Mohamed said the bank has been keeping abreast with the latest news on Covid-19 and is engaging with customers who may be impacted by the situation.

"We will be taking proactive actions in helping our customers and businesses to cope with financial predicaments," he said.

Mohd Muazzam assures customers that Bank Islam’s normal services would continue during the enforcement of the government’s movement control order from March 18 to 31. — Bernama