Banks in the country are capable of extending the moratorium period from October to December 2020, as they have adequate buffers.said every moratorium extension decision announced by the government was regulated by Bank Negara Malaysia and entailed the involvement of the Association of Banks in Malaysia.
To a supplementary question from Hassan Abdul Karim whether the borrowers who failed to repay their loans after the moratorium period is over would be subject to legal action, Abdul Rahim said the lawsuit would be avoided. “To borrowers who have problems, they can visit the Credit Counseling and Debt Management Agency for advice,“ he said.
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