Malaysian Banks to Alleviate Burden of Flood Victims in Several States of Malaysia

The plight of flood victims in several states in Malaysia including Pahang, Johor, Kelantan, Terengganu, and Perak, is receiving attention from various banking institutions in the country who are offering loans, financial aid and moratoriums to eligible customers affected by the recent floods in order to ease the additional financial burden and subsequently help affected communities rebuild their livelihoods.

According to local media reports, Bank Islam Malaysia will channel MYR 400,000 from its Islamic crowdfunding platform Sadaqa House to provide humanitarian and disaster relief in several flood-affected states, in addition to offering a moratorium to flood-hit customers.

Meanwhile, CIMB Bank and CIMB Islamic Bank will be providing a six-month payment relief for ho...