MBSB Bank to continue providing financial assistance to those badly hit by Covid-19

KUALA LUMPUR, May 17 — MBSB Bank today reiterated its commitment to assisting its customers whose finances have been severely affected by the Covid-19 pandemic through its Targeted Repayment Assistance.

In a statement, the bank said that the assistance — which has now also been extended to small and micro enterprises (SMEs) — will be provided in the form of an additional three-month moratorium extension or a six-month reduction of 50 per cent on their monthly payments.

MBSB Bank President and CEO, Datuk Seri Ahmad Zaini Othman, said that the bank’s move is in support of statements by Bank Negara Malaysia (BNM) and Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) urging all financial institutions to provide more solutions to their customers who are affected by the pandemic.

He said that the financial setbacks faced by both people and businesses following the reintroduction of the movement control order (MCO) across the country would continue, adding that he hopes the bank’s assistance will offer some much-needed financial breathing space.

“We urge our customers to talk to us and seek this assistance. While this targeted assistance may not be applicable to all customers but only those who require it, we have put in place a simplified documentation process to ease our customers in applying.

“We want our customers to know that we are here to help them and hopefully, the relief will be able to serve as an immediate financial breather,” he said.

The bank first introduced its Targeted Repayment Assistance to its customers under the B40 and M40 categories on November 23 last year, in the middle of the second wave of the Covid-19 pandemic in the country.

Interested MBSB Bank customers can apply for the assistance online via www.mbsbbank.com.