FM: Moratorium not interest free, but banks told to waive compounded interest

The six-month moratorium on bank loans announced by Putrajaya yesterday would not be interest free, according to Finance Minister Tengku Zafrul Abdul Aziz.

However, he has asked banks to waive compounded interest and late penalty fees.

Zafrul said this after a press conference to detail aid under the Pemulih package this afternoon.

Earlier during the presser - which Malaysiakini attended virtually - Zafrul said the moratorium was "not interest free".

"I am saying that this moratorium is the same as before. It is not interest free.

"By definition, moratorium is deferment of loan repayment," he said.

However, after the press conference ended, Zafrul left the room and came back with some additional info.

"I have requested the banks, no compounded interests, no penalty," he told media that were physically present.

Malaysiakini received a recording of the post-press conference presser...