With Bank Negara offering the Special Relief Fund of up to RM1 million per business, what are the banks are offering to their “customers”?
This may seem a normal practice within Malaysia, but at the current time of crisis, how can the banks justify this when the government is guaranteeing 80 percent of the loan?a) Yes, the government is guaranteeing 80% of the loan, andWhat mindset are the banks in? Do they seriously believe the SME business owners want to not repay loans and tarnish our names as being bankrupt?
So with potential 100% director guarantees and with 80% government guarantees, the risk to the bank ... is yet again zero. The banks are using this time of crisis to maintain and enhance shareholder interest. In no way are they looking at national interests.
GEanalyst Bankers are cruelest in the World that they helped you with many unwanted condition and terms in case you can't repay due to beyond your rein, they will wallop you undoubtedly! If banks collapsed they may bailout by taxpayers's monies Unrefutably!
Y cant bank take oni 20% guarantee rather than asking 100% from directors....
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