MARC: Private bank support crucial to cushion Covid-19 impact after BNM’s subdued forecast for MalaysiaMARC said that BNM’s move to lower its Statutory Reserve Requirement has also allowed banks to have more liquidity to provide businesses with fresh funds to be used as business lending for companies such as SMEs to recover during this time. — Picture by Yusof Mat Isa
“Given the government’s limited fiscal space, we feel the private sector can play a critical role in ensuring the Malaysian economic fabric remains intact in the long term. For example, commercial banking institutions can help support the economy by effectively utilising the liquidity made available by BNM by lending to businesses that are in need of lifelines .
“These funds are useful for businesses struggling to make ends meet especially at a time when there is a high cash burn rate . In addition, the interest rate for the entire fund will be reduced from 3.75 per cent to 3.5 per cent.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Covid-19 just the latest problem for Malaysian private universities — Murray Hunter | Malay MailAPRIL 4 — An imminent disaster is pending within Malaysia’s private higher education sector that could potentially permanently close the doors of up to half of the country’s private institutions, leaving only a few with strong backers to financially guarantee their survival. The onset...
Source: malaymail - 🏆 1. / 86 Read more »
World Bank sees ‘major global recession’ due to Covid-19 pandemic | Malay MailWASHINGTON, April 4 — World Bank Group President David Malpass yesterday said the rapidly spreading Covid-19 pandemic was expected to cause a “major global recession” that would likely hit the poorest and most vulnerable countries the hardest. “We intend to respond forcefully and massively...
Source: malaymail - 🏆 1. / 86 Read more »
How world leaders are living through Covid-19 | Malay MailPARIS, April 4 — World leaders in voluntary or enforced isolation have, like billions of people around the globe, been forced to change their lifestyles during the Covid-19 pandemic. Here is a snapshot: Angela Merkel The German chancellor yesterday emerged from 14-days quarantine in her Berlin...
Source: malaymail - 🏆 1. / 86 Read more »
Singapore reports 65 more Covid-19 cases, including 17 with no links | Malay MailSINGAPORE, April 4 — The Ministry of Health yesterday reported 65 new cases of Covid-19, bringing the total number of infections here to 1,114. Associate Professor Kenneth Mak, director of medical services at MOH, said that of the new cases, nine are imported, while 39 are linked to previous...
Source: malaymail - 🏆 1. / 86 Read more »
Covid-19: Govt should introduce free mass testing post-MCO — Lim Kit Siang | Malay MailAPRIL 4 — Malaysia must from learn from the best practices of other countries like South Korea, Singapore and China in the invisible war against the Covid-19 pandemic so as not to repeat the nightmares that other countries like Italy, Spain, France, United Kingdom and United States are...
Source: malaymail - 🏆 1. / 86 Read more »
The new 9/11: Covid-19 and a looming mental health disaster | Malay MailLOS ANGELES, April 3 — The coronavirus pandemic has plunged the world into uncharted territory, leaving people feeling helpless in the face of an invisible threat of unknown duration that could infect any of us. With uncertainty surrounding the outbreak deepening the economic, social and health...
Source: malaymail - 🏆 1. / 86 Read more »