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Anwar: Maybank and CIMB to offer six months moratorium for Johor flood victims

Malay Mail
Malay Mail

KUALA LUMPUR, March 7 — Malaysia’s two largest banks, Maybank and CIMB, have agreed to offer its borrowers in flood-struck Johor a moratorium for six months, Prime Minister Datuk Seri Anwar Ibrahim said in the Dewan Rakyat today.

Anwar, who is also finance minister, said the government has also urged other banks to follow Maybank and CIMB’s lead.

“With regards to the moratorium, to ease the flood victims, the Johor state government had suggested that a moratorium be offered to flood victims to delay their loan repayment as the situation dire.

“So far Maybank and CIMB have agreed to a six-month moratorium. Today and yesterday, we have reached out to other banks to follow their lead,” Anwar said during the Prime Minister’s Question Time this morning.

Johor Menteri Besar Datuk Onn Hafiz Ghazi appealed to Anwar yesterday, asking that borrowers in the southern state who are struggling with flood and the massive clean-up in the wake of the disaster be given a bank moratorium of between three to six months on repaying their loans.

The first wave of floods hit Johor on January 24 lasted to February 10, and involved eight districts and affected about 5,000 families.

A second wave that started on March 1 has forced 40,129 people in Johor to leave their homes and move to temporary shelters as of 8pm yesterday, based on information by the state disaster management agency.