Money changers say also affected by Covid-19 curbs

GEORGE TOWN: The government-ordered measures to help stem the Covid-19 outbreak has affected the money-changing business, Penang Muslim Jewellers and Money Changers Association deputy president Munower Sadiq said today.

As such, he urged the government to also look into the plight of money changers whose business is heavily dependent on the tourism industry, which is now badly affected by the pandemic.

“Since the outbreak of the Covid-19, there is almost no or very limited travel into or out of Malaysia. This affects the money-changing business, which has dropped by almost 80%,” he told a media conference here.

He said the association felt left out and neglected when there was no mention of the industry in the RM20 bil Economic Stimulus Package announced by the government recently.

“We sincerely hope that the new Prime Minister Tan Sri Muhyiddin Yassin and Finance Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz will also include the money changing industry, also known as the Money Services Business (MSB), in all government schemes or programmes,” he added.

He said the association also hoped that the government would include MSB as an eligible category to benefit from the Special Relief Fund (SRF) provided by Bank Negara to help alleviate the short-term cash-flow problems faced by SMEs adversely affected by the Covid-19 outbreak.

It is also hoped that the financial sector, especially banks, would provide access to financial products for those in the MSB industry, he added. – March 17, 2020, Bernama

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