Relief measures from Agrobank to ease Covid-19 impact


AGROBANK is offering several relief measures to its customers who are affected by the Covid-19 pandemic.

Agrobank covering president and CEO Khadijah Iskandar (picture) said in a statement that among the relief measures include restructuring and rescheduling of financing, as well as moratorium on financing repayments for up to six months.

She said at this crucial stage, Agrobank is finding ways to do its bit and help manage the impact of the pandemic on its customers, staff, communities and partners.

“Agrobank is also prepared to extend the maturity period of trade financing and working capital financing in order to help economic operators safeguard jobs, alleviate cash-flow problems and ensure business continuity.

“We value our long-term relationships with clients, hence the financial relief would be made available to both our business customers and small and medium enterprises (SMEs), as well as individuals affected by the current situation and would be assessed on a case-to-case basis,” she said.

Agrobank said the relief measures, along with the RM20 billion stimulus package announced by Bank Negara Malaysia (BNM), is expected to give better prospects for continued economic growth in Malaysia.

BNM has allocated RM3.3 billion in total to help SMEs sustain their business operations, safeguard jobs and encourage domestic investments through Special Relief Facility, Agrofood Facility and SME Automation and Digitalisation Facility.

All three facilities are available via participating financial institution including Agrobank, which has identified its affected customers who are eligible for the stimulus package.

Agrobank branches will remain open throughout the Movement Control Order until March 31.

The bank is also promoting its online and mobile banking capabilities to encourage Malaysians to avoid public places amid the coronavirus outbreak.

“We strongly encourage our customers to fully utilise our Internet banking facilities for both AGRONet and AGRONetBIZ, and also our mobile app AGRONet.

“We want to make sure our customers are fully aware that they can bank, invest and make payments from wherever they are, particularly if they’re not able to come to our branch for any of their banking needs,” Khadijah said.

Customers can call the bank’s customer contact centre at 1-300-88-2476 or visit the nearest branch for more information on the assistance available.