28th January 2022 - 2 min read
The application deadline for the Financial Management and Resilience Programme (URUS) has been extended from 31 January 2022 to 31 March 2022. With this, eligible B50 customers who are in need of further financial assistance will have more time to apply for URUS via their banks.
Meanwhile, those who enrolled for banks’ recent flood relief assistance programmes will also see the URUS application closing date extended until 31 July 2022 for them, or upon the expiry of the flood relief assistance programme – whichever is earlier. These flood relief programmes is in reference to those that were offered to customers who were affected by the flooding back in December 2021.
URUS – which was launched back in November 2021 – is a collaborative effort between the banking sector and the Credit Counselling and Debt Management Agency (AKPK). It seeks to assist Malaysians who continue to struggle with cash flow difficulties due to Covid-19, even with previous financial aids that have been provided by the government.
Specifically, B50 customers with a gross monthly household income of RM5,880 or less, who experienced a loss of employment or a reduction in income of at least 50% are eligible to apply for URUS. If approved, they will be presented with customised financial plans that consist of several repayment assistances, including interest/profit waiver for three months, deferred payments, and reduced instalments.
If you would like to apply for URUS, you can do so online via your bank’s website, through telephone banking channels, or by visiting your nearest bank branch. Note that customers who have accounts with multiple banks will only need to apply with one of any banks. You also should not engage with any third parties claiming to be representatives of banks to make your URUS application as no third parties have been appointed for this purpose.
Meanwhile, customers who are still in need of financial assistance but do not qualify for URUS are encouraged to speak to their banks. They may negotiate for other tailored repayment arrangements to help them with their financial circumstances.
(Source: The Edge Markets)
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