KUALA LUMPUR: A blanket loan moratorium may not be the best solution for borrowers following the reimposition of the movement control order (MCO) nationwide, instead they should approach banks to help them meet their debt obligations, according to Bank Negara.
Governor Datuk Nor Shamsiah Mohd Yunus said all banks have their payment assistance plans, including targeted loan moratoriums, which can be offered to borrowers who have lost their jobs or suffered a reduction in income.
“Borrowers can also approach multiple channels that have been set up, including Bank Negara’s Credit Counselling and Debt Management Agency or AKPK, if they require advice or further assistance.
...
