KOTA KINABALU: Umno Sabah has called on state government-owned financial institutions to allow all their customers to defer their monthly instalment payments.
In a statement today, communication director Ghazalie Ansing said it was only proper for Sabah Credit Corporation, Usaha Maju Foundation (YUM) and other Sabah-owned agencies to grant a six-month loan repayment moratorium as was being done by commercial banks.
To provide some relief to borrowers facing financial constraints due to the Covid-19 pandemic, Bank Negara Malaysia announced last week that all banks and prescribed development financial institutions regulated by it would offer an automatic deferment of loan/financing repayment obligation - both principal and interest - for six months beginning today.
“The people and traders, including borrowers, are affected during the Movement Control Order (MCO) period. This (moratorium on loan repayments) will help facilitate borrowers in restructuring their finances in the wake of Covid-19.
“Malaysia’s key financial institutions have already granted the moratorium on loan/ financing repayments. This six-month moratorium package should be also enjoyed by borrowers and customers of Sabah Credit, YUM and other state financial institutions,” said Ghazalie, who is Umno Tawau division chief.
He said the proposed repayment deferment by Sabah-owned financial agencies was eagerly anticipated by the borrowers involved. - Bernama
