Malaysian Government to Grant Moratorium Extension for Jobless

The Malaysian Government has announced a further three-month extension of the bank loan moratorium for those who have lost their jobs as a result of the COVID-19 pandemic and the movement control order.

Speaking at a televised address on the 29th of July 2020, Malaysia’s Prime Minister, Tan Sri Muhyiddin Yassin announced that, following discussions with the Finance Minister and Bank Negara Governor, the Government had agreed to provide a more focused loan moratorium and targeted bank assistance for those in need.

According to Muhyiddin, individuals who had lost jobs and were unable to gain new employment would be eligible for the targeted moratorium extension for three months...