Malaysia Urges Borrowers Seeking Moratorium Extensions to Apply without Delay: Ministry of Finance

Speaking to local media on the 5th of August 2020, Malaysia’s Finance Deputy Minister, Mohamed Shahar Abdullah, advised individual borrowers saddled with unpaid instalments due to COVID-19 to negotiate with their respective banks regarding extensions for their loan moratoriums without further delay.

Reminding borrowers that their applications needed to be submitted, given that the moratorium process is no longer automated, Abdullah guided them to start contacting their finance providers by the 7th of August 2020.

Abdullah expressed concerns regarding the banks’ ability to handle last-minute application requests for extensions of the loan moratoriums set to end in Septem...