Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said that though there are many banks that offer loan deferment without imposing the accrued or compounded interest, the leeway does not cover all loan products. ― Bernama pic
“Taking into cognisance that there is a possibility that it can be implemented, and taking the people’s request into account, I would like to suggest that all financial institutions, especially those involved in this moratorium, to consider abolishing the accrued interest for hire purchase loans or profits for fixed-rate Islamic financing, for this six-month moratorium period,” Zafrul said.
In a newly released frequently asked questions list yesterday, the central bank denied that it had also backpedalled on its initial announcement. BNM added that the misperception arose, due to an illustration provided in an initial version of the FAQs, “where certain assumptions and caveats were made.”BNM then provided an example of a RM50,000 HP loan with a remaining tenure of five years and a fixed interest of 2.71 per cent per annum:But should the deferment option be accepted, based on this example, the monthly instalment is now RM731, or an increase by 2 per cent or RM19. Consequently, the total interest increase incurred is RM1,130.
Banks' SOP already out to the borrowers
CIMB HP defaulters are highest among Malays. Mostly UMNO members.
BNM IRRESPONSIBLE !! to RAKYAT but only PROFIT Concerned.
BNM IRRESPONSIBLE !! to RAKYAT but PROFIT Concerned.
Lppsa pn xbg ni lak nk mtk bank
U turn here, u turn there. One day you guys will masuk longkang coz U turn tak lepas. Just instruct the bank lah, no need to ask.
Whatever stupid tweets by these stupid keyboard warriors, i can say you're much much better than the former finance minister
Wonder if ppl realised that BNM is an independent body responsible for banking & monetary policies & regulations while Finance Ministry takes care of the country's financial expenditure..
U n bankers are all crooks
This is a banker FM not elected FM !!
Gabenor bank negara boleh bersara awal...bnm buat faq tapi tak mengaku pulak...
Nak jadik hero la konon....true colour of him and the rest
Pls charge Finance Minister for fake news. And set Kuantan MP free if he can get away with fake news.
Politics game just started
Lousy minister 🤡
U turn, roundabout, u lousy minister got shot, now u talk some empty talks again
Haha... clowns 🤡
Why can't he use his power to instruct?
🤣🤣 pakcik dia senyum je... Fast learner ya boy🤣
Another U-turn? Why did this fool not instruct the banks thru Bank Negara before allowing banks and financial institurions to charge accrued interest 2 days ago?
Assuming Rakyat tak bising, would banks on their own accord think about us? NEVER. Maybe when hell freezes over la.
Waiting for CIMBMalaysia to reply first! 🙋🏻♂️🐙
BankerJagaBanker
🎭 Playing out the act. Who will end up with the Oscar❓
what a screwed up? Fix it. Don't find a scapegoat.
They are all his “friends”.. please ask them to consider it 🙏🏻