KUALA LUMPUR: Member banks of the Association of Banks in Malaysia (ABM) are ready to assist businesses affected by the 2019 novel coronavirus outbreak.
In a statement today, ABM informed that bank members’ concerted efforts are underway to ensure that their customers are able to weather this trying time and ensure business continuity.
“The financial industry is cognisant of the current coronavirus outbreak affecting businesses and industries globally and locally.
“We, therefore, advise businesses experiencing financial difficulties arising from the current coronavirus outbreak to consult with their banks as soon as possible to discuss their options pertaining to their loan commitments and/or repayments,” the statement said.
It said the options may involve loan rescheduling and restructuring and/or moratorium on loan repayment(s), in addressing the adverse financial circumstances faced by borrowers brought upon by the outbreak.
It also stated that such assistance would be subject to independent assessment by member banks on a case-by-case basis. – Feb 11, 2020, Bernama
