Malaysia’s govt agrees to three-month loan moratorium extension, but only for the jobless: PM

Bersatu president Tan Sri Muhyiddin Yassin signs a letter of appointment at a ceremony in Istana Negara, Kuala Lumpur March 1, 2020. — Bernama. Sketched by the Pan Pacific Agency.

KUALA LUMPUR, Jul 29, 2020, Malay Mail. Prime Minister Tan Sri Muhyiddin Yassin today announced that the government has agreed to further extend the bank loan moratorium for the public, following outcry from those affected by Covid-19 and the movement control order, Malay Mail reported.

In a special address today, he said the extension will run for three months but only for those who lost their jobs this year and are yet to find employment, after which period banks can further extend the help based on the situation.

“I hear you about the moratorium that would end in September. I also know many are hoping that the moratorium would be extended,” Muhyiddin said.

“Therefore, I have discussed with the finance minister and Bank Negara governor, to find a solution to the problems faced by some who are still in need of help.

“So today I want to announce that the Perikatan Nasional government has agreed to execute the extension of the moratorium and targeted bank aid, which will be focused for those who are truly in need,” he added.

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