BNM And Penang Government Host Event On Post-Moratorium Loan Repayment Assistance

Alex Cheong Pui Yin

10th September 2020 - 2 min read

(Image: Free Malaysia Today)

The Penang branch of Bank Negara Malaysia (BNM) has collaborated with the Penang state government to organise a two-day event aimed at assisting entrepreneurs, SMEs, and the public in planning their loan repayments post-moratorium.

The event will be held on 12 and 13 September (10am to 6pm) at RAIA Hotel in Bayan Lepas. A total of 17 banks and 8 agencies – including BNM – will be present to help those who saw their income being impacted by the Covid-19 pandemic.

Note that while the event is a loan repayment campaign, it is also an entrepreneur incentives programme. Event highlights that you can look forward to include information on available flexible loan repayments, talks and briefings on incentives for entrepreneurs, as well as introduction to other existing financial facilities provided by the Penang Development Corporation, Penang Halal International, and BNM.

(Image: New Straits Times/Danial Saad)

The chairman of the Trade, Industry, and Entrepreneurial Development Committee, Datuk Abdul Halim Hussain, commented that although the government had extended the loan moratorium for individuals who lost their jobs, entrepreneurs and SMEs were excluded. “Many of them have less income now and still can’t afford to repay their loans, so this event is to help them apply for flexible repayment with their respective banks,” he said.

The ongoing automatic moratorium, which had commenced in April 2020, was offered to both individuals and SMEs with the intention to ease their cashflow during the financially challenging MCO period. It is slated to expire by the end of this month, with the government now urging the Malaysian public to reach out to their respective banks if they foresee difficulty in financing their loans after the moratorium.

You can find out more about BNM’s and the Penang state government’s event here.

(Source: Malay Mail)

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Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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