Mara defers student and business loans

Majlis Amanah Rakyat (Mara) will allow students and entrepreneurs affected by the Covid-19 pandemic to defer their loan payments.

Rural Development Minister Abd Latiff Ahmad said in a statement yesterday that Mara student borrowers will be given a three-month deferment, provided they do not have any arrears for three months.

He added that this also covered borrowers of its Advanced Educational Loan facility.

Entrepreneurs who have taken Mara loans will be given a six-month deferment provided they do not have any arrears for more than two months, Abd Latiff said.

“A special 30 percent discount on the lease of Mara business premises will also be given to all entrepreneurs.

“These incentives are subject to stipulated conditions as well as proof that they have been directly affected by the virus outbreak,” he added.

- Bernama