Finance Ministry: 98% of 650,000 applications for targeted moratorium approved

The applications were mainly from individuals who had lost their jobs and businesses in sectors that are still experiencing significant operational constraints as a result of the Covid-19 pandemic.

Finance deputy minister I, Datuk Abd Rahim Bakri said of the approved applications, 40% were for moratorium extension. "Of the approved applications, 60% were for reduction in monthly instalment payments. These applicants were mainly borrowers whose salaries had been deducted, ” he told the Dewan Rakyat on Thursday.

Abd Rahim said the government had granted a six-month blanket bank moratorium as part of the Prihatin Rakyat Economic Stimulus Package to help ease the burden of the people and businesses due to the pandemic shock in March 2020.

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