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HomeMalaysia NewsBank Employees Ask Government To Restore Loan Moratorium Before CMCO effects

Bank Employees Ask Government To Restore Loan Moratorium Before CMCO effects

Kuala Lumpur: The National Union of Bank Employees urged Finance Minister Zafrul Abdul Aziz to consider re-establishing a bank loan moratorium, especially on groups like M40, B40 and SMEs that are most affected by the pandemic

After the recent reinforcement of CMCO in Selangor, Putrajaya, Kuala Lumpur and Sabah, the government must consider the significant issue, NUBE secretary-general J. Solomon said.

He said the government should think about the low-income groups and stop ignoring that CMCO will affect them.

Citing Nube’s example of how it asked the Malaysian Commercial Banks Association to provide its members with a blanket moratorium. He said in the same way they urged the government to provide blanket moratoriums for M40, B40 and SMEs.

He stated that many employees had to sell their car or remortgage their homes to pay loans, however low salary people don’t have any other option. Adding that a three-month loan moratorium would not burden anybody.

He said that delays in blanket moratoriums would create property cluster.

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