Wednesday, 29 Jul 2020 04:13 PM MYTMuhyiddin said banks may allow borrowers to service the interests of their loans alone or apply for an extension of their loan duration. — Picture by Ahmad Zamzahuri
KUALA LUMPUR, July 29 ― Prime Minister Tan Sri Muhyiddin Yassin said today lenders will continue to give assistance to small and medium businesses affected by the fallout from the Covid-19 pandemic.Depending on the borrower’s financial situation, banks may allow borrowers to service the interests of their loans alone or apply for an extension of their loan duration.
“Banks have given their commitment to help all individual borrowers or SMEs be it traders, petty traders or the self-employed who are affected by Covid-19,” Muhyiddin said on live television. Muhyiddin had earlier announced the extension as part of his Perikatan Nasional government’s effort to help retrenched workers.
Source: Loan Digest (loandigest.net)
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