Business groups ask gov't for blanket zero interest loan moratorium due to pandemic

These groups want the moratorium to have an opt-out option instead of them having to request the banks, which they say banks could afford.

The statement was signed by 14 associations that are members of the"Moratorium Untuk Rakyat” taskforce which is supported by another 125 groups. They also said that the banks could afford it as the eight top local banks collectively made a profit of RM93bil in the last three years. They also called for a zero interest moratorium and that the banks must not charge any costs while there must be waivers for loan restructuring exercises.

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Business guilds: Permerkasa Plus not enough, we want automatic moratoriumThe blanket bank loan moratorium must stay till Dec 31 or when herd immunity is reached - whichever is later, they say.
Source: malaysiakini - 🏆 20. / 51 Read more »