Deputy Finance Minister: Malaysian Banks have Sufficient Capacity to Extend Moratorium

Malaysian banks have sufficient capital buffer to extend the targeted moratorium period from October to December 2020 as announced by the Government of Malaysia, according to Malaysian Deputy Finance Minister I, Datuk Abdul Rahim Bakri.

Speaking at the Dewan Rakyat on the 12th of August, 2020, Abdul Rahim stated that a total of MYR 66 billion out of the allocated MYR 100 billion had been used by banks for moratorium assistance under the economic stimulus packages. Abdul Rahim added that each moratorium extension decision by the Government was regulated by Bank Negara Malaysia (BNM) and involved the Association of Banks in Malaysia.

Regarding legal action for borrowers who failed t...