Bank Islam continues enhanced targeted repayment assistance

Mohd Muazzam Mohamed

KUCHING: Bank Islam Malaysia Berhad (Bank Islam) will continue its Enhanced Targeted Repayment Assistance (ETRA) for its customers who were affected by the Covid-19 pandemic.

Customers on its existing moratorium will be offered an additional three months extension to defer their financing; or a six-month extension on a reduced instalment payment schedule.

“This measure is in line with Bank Negara Malaysia’s (BNM) call for banking and financial institutions to assist borrowers based on their specific financial circumstances, following the re-imposition of the movement control order (MCO) nationwide.

“Bank Islam will also assure that the assistance remains available, including and not limited to only Targeted Repayment Assistance (TRA), but also other forms of long-term assistance such as the Rescheduling and Restructuring (R&R) package,” the bank said in a statement on Sunday (May 16).

It added that the assistance is also applicable to customers across various income groups, micro-businesses and customers affected by the recent MCO.

Bank Islam chief executive officer Mohd Muazzam Mohamed stated that the Bank Islam is taking proactive measures to safeguard their wellbeing as the number Covid-19 cases around the country is at an alarming rate.

“Since the outbreak of the Covid-19 pandemic, the bank has offered multiple options to alleviate the financial constraints faced by our customers.

“Bank Islam is aware that this pandemic has brought about many uncertainties and continuously encourages our customers to assess their financial health.

“Our message has been very consistent since the onset of the pandemic — we are here to help you. If you need assistance, reach out to us, and we will do our level best to help you tide over this difficult period,” Muazzam added.