Maybank offers moratorium for flood victims

PETALING JAYA: Malayan Banking Bhd (Maybank) will offer a six-month moratorium on a case-to-case basis for monthly instalment payments of loans, as well as waiver of certain charges for customers affected by the floods in various states in the country immediately.
The suspension includes waiver of charges for affected customers seeking replacement of ATM cards, cheque books and passbooks which have been destroyed in the floods.
Maybank will also consider requests from affected credit card customers for waivers of late/finance charges and applications to increase their credit limit during this period.
"The bank understands the difficulties faced by those who are affected by the flood and that they will require some form of financial relief during the period. Hence, in line with Maybank's mission to humanise financial services, we initiate this program to lessen the burden of our customers," Maybank's head of community financial services Malaysia Hamirullah Boorhan said in a statement yesterday.
He added that Maybank would process the request for relief assistance on a case- to-case basis, and it applied to both conventional and Islamic facilities.
Meanwhile, the group's insurance arm, Etiqa Takaful Bhd will expedite claims processes from customers who have taken their flood insurance policies.
Apart from its financial relief program, Maybank is also assisting affected flood victims through its recent partnership with Mercy Malaysia, which it has committed RM 1 million to be channelled to the victims and distribute hygiene kits and food items in Tanah Merah recently.