Kuala Lumpur: More people are questioning the terms of the moratorium announced by the government and supported by banking institutions.
On Twitter, users are questioning why do they have to cough up more in ‘interests.’ Others are claiming the terms offered by the banks are not moratorium terms, they are loan restructuring.
Maybank for example has the following clauses, highlighted in the Twitter post above.
Syed Saddiq, ex-Sports Minister is also voicing his concerns regarding the terms of the moratorium.
In a joint communique, ABM & AIBIM says banks are to offer a 6-month moratorium from 7 July in line with the PEMULIH package.
The media release did not mention that the moratorium will be without interest.
Politicians in the opposition are saying the government have lost their way. The tweet above shows the opinion of some of the political figures.
Above, another user on Twitter says the moratorium is “rescheduling and restructuring” since that’s what it really is.
Others are asking those who can pay their debts to do so and not to take up the moratorium offer.
The Association of Banks in Malaysia and Association of Islamic Banking and Financial Institutions Malaysia remain cognizant that the rakyat continues to face financial challenges due to the ongoing lockdown under Phase 1 of the National Recovery Plan.
The entities say this is in line with the announcement by Prime Minister Muhyiddin Yassin on the Pakej Perlindungan Rakyat dan Pemulihan Ekonomi (PEMULIH package) on 28 June 2021.
“It is reflective of our member banks’ continued commitment to providing comprehensive support to our borrowers and customers, our member banks will be offering a 6-month moratorium on the instalment of all credit facilities (excluding credit cards) for the following borrowers/customers.”
