Bank Muamalat offers assistance to two targeted groups

KUALA LUMPUR: Bank Muamalat Malaysia Bhd is ready to provide targeted payment assistance to customers who expect to face difficulties in making their financing payments after the moratorium period ends on Sept 30, 2020.

The targeted payment assistance is available to customers in the two vulnerable categories, the bank said in a statement.

“Individuals, who have lost their jobs in 2020 and are yet to be employed, will be provided a further targeted moratorium extension for a period of three months from Oct 1.

“For individuals, who are still employed but have had their salary reduced; their monthly installment can be lowered in tandem with their pay cuts, depending on the type of financing for a period of six months from Oct 1,” it said.

Bank Muamalat chief executive officer Khairul Kamarudin said the targeted payment assistance offered by the bank is in line with the government’s extended COVID-19 relief initiatives, as announced by the Prime Minister recently.

“Bank Muamalat has reached out to all its customers via short messaging service (SMS) and through various social media platforms to ensure that customers are aware of the payment assistance provided by the bank,” Khairul added.

The bank said the payment assistance will be provided on a case-by-case basis for other customers who are affected but do not fall under the vulnerable categories.

Customers, who need further information on the targeted payment assistance, are advised to visit the nearest Bank Muamalat branch or contact + 603-2600 5500 or visit the bank’s website at

The bank recommended the customers to refer to the Frequently Asked Questions (FAQ) on Payment Assistance Post Moratorium and submit the application form.

Source: NST