Finance minister: Govt to continue engaging with banking institutions to ensure readiness to assist people if economic situation worsens | Malay Mail

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Finance minister: Govt to continue engaging with banking institutions to ensure readiness to assist people if economic situation worsens

Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz speaks during the winding-up debate on the Supply Bill 2021 in the Dewan Rakyat today, November 26, 2020. ― Bernama pic

Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz said the government had announced an extension of the targeted moratorium for the low-income B40 group and small traders where they only need to contact their banks and apply for the extension. “Wouldn't it be better for them to pay the debt so that the money can go into the banking system to generate more loans, especially to businesses and industries that support and create jobs for the people?

Tengku Zafrul said Malaysia, through the Prihatin package, had become the first country in the world where its banking institutions have granted an automatic moratorium for six months to all bank borrowers with value estimated at almost RM100 billion.

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