Banks in Malaysia can Afford to Offer Moratorium Extensions: Former Prime Minister

Citing the profits made by nine banks in Malaysia between May and June 2020, former Prime Minister, Najib Razak urged banks to extend the moratoriums on loans, stating that banks should account for the recent increase in COVID-19 cases in the country, that has led to restrictions as well.

According to Razak, the rise in COVID-19 cases is certain to impact the local economy, as well as the income to the country, and therefore warrants an extension to the moratorium, until the end of the year.

Razak suggested that if banks were unable to provide moratorium extensions for all customers, they should look to provide automatic extensions for those in the B40 category, and loans for PPR/P...