98% of applications for targeted extension of moratorium approved, says PM Muhyiddin | Malaysian Institute of Estate Agents

98% of applications for targeted extension of moratorium approved, says PM Muhyiddin

2020-09-23

KUALA LUMPUR (Sept 23): Ninety-eight per cent of applications for a moratorium extension and targeted bank assistance have been approved, said Prime Minister Tan Sri Muhyiddin Yassin.

"In July, I also announced the moratorium extension and targeted bank assistance.

"As of Sept 11, banking institutions have had discussions with over 1.4 million borrowers, and over 380,000 borrowers have confirmed that they really need this assistance,” he said when delivering the “Kita Prihatin” special address today.

Muhyiddin said the government will continue to monitor the latest developments and will ensure banking institutions play a role in helping the people and businesses in need of assistance to face this challenging period.

He urged members of the public who have not submitted their applications to immediately contact their respective banking institution.

To ease the burden on businesses and households affected by the spread of Covid-19, the government has announced a deferment of loan repayments, including for mortgage loans and hire purchases, for a six-month period.

This automatic moratorium programme is due to expire at the end of September.

The government today announced several initiatives and additional assistance under the Kerangka Inisiatif Tambahan Prihatin (Kita Prihatin) framework with an allocation of RM10 billion along with efforts to revive the economy in order to safeguard the people’s well-being.

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