Bank Muamalat announces six-month moratorium relief for customers and staff affected by floods in Penang and Kedah

Pic by Bernama

Kuala Lumpur, 9 November 2017 – Bank Muamalat Malaysia Berhad (Bank Muamalat) has put into immediate effect a six-month moratorium relief, based on the merit of the case, on various financing and financing products, in an effort to assist our customers and staff who have been affected by the floods in Penang and Kedah.  

The six-month moratorium relief would be applicable to all secured banking facilities, including home financing and business premises financing for individual and enterprise/commercial customers.

Charges would also be waived for debit card replacement, statement request or replacement of mutilated passbook/bankers’ cheques, and fixed term account-i certificates.

Dato’ Haji Mohd Redza Shah, Chief Executive Officer, Bank Muamalat said, “The management and staff of Bank Muamalat are truly touched by the flooding in Penang and Kedah. With this moratorium relief, we hope that it will ease the burden of our customers and staff. Our branches in these areas have remained open to enable customers to fulfill their banking needs. We are closely monitoring the situation and we pray that the situation in the Northern region will return to normal soon.” 

Customers are advised to call 1-300-88-8787 or visit the nearest branch for further information on the eligibility for the moratorium relief. 

About Bank Muamalat Malaysia Berhad

Bank Muamalat is a leading Islamic bank, established on 1 October 1999, and is governed by Islamic Financial Services Act 2013 (IFSA). As a full-fledged Islamic financial institution, the bank offers its customers a broad range of services, meeting the needs of both individuals and institutions.

In essence, Bank Muamalat provides individuals with services ranging from deposit accounts and asset management to financing needs such as for automobiles, homes as well as for personal use. The Bank similarly offers corporate and institutional customers the full product assortment of a leading corporate and investment bank, from cash management, payment solutions including trade and export finance to international foreign exchange, financing and capital market transactions. 

Bank Muamalat has presence nationwide via a network 63 branches, in addition to its electronic channel, encompassing i-Muamalat, the Bank’s internet banking solution, and e-Muamalat, available at almost 240 locations, referring to its network of ATMs, CDMs, and CDTs. 

Bank Muamalat is a member of the DRB-HICOM Berhad Group where the public listed company owns 70% of the Bank’s shares with the remaining stake held by Khazanah Nasional Berhad, the nation’s investment arm.