Banking institutions urged to roll out means to conclude loan/financing payments under the moratorium.
Bank Negara has required banking institutions to take appropriate steps to ensure that borrowers/customers are provided with clear information on the process and changes to the terms of their agreements.
“Banking institutions will also provide to each borrower/customer-specific details of changes to the terms of his/her HP loan or fixed rate Islamic financing agreement. In such a case, borrowers/customers will be given reasonable time by banking institutions to regularise any outstanding scheduled payments that were earlier deferred under the moratorium.
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