Bank Islam: Contact banks to extend moratorium

by HARIZAH KAMEL

BANK Islam Malaysia Bhd is encouraging those who need an extension to their loan moratorium to contact their respective banks.

Its CEO Mohd Muazzam Mohamed said following the Prime Minister’s announcement to implement the extension of a targeted moratorium, Bank Islam has recently contacted all 380,000 of its customers via SMS. 

“From that figure, the number of those who have responded is less than 10%, perhaps because many have not yet decided. 

“For those who do not need the extension, they do not have to respond and will resume to pay starting October,” he told reporters in Kuala Lumpur today.

He added that Bank Islam’s first focus is to help customers who have been impacted during this difficult period so that they can survive, while only 5% of its customers did not take up the moratorium.

“We have provided various channels for our customers to come to us. Those who need the moratorium extension or any clarification about their situation can visit our website, social media or any of our branches.

“Bank Islam is in a strong position to help. In terms of capitalisation we are in-tact but there are some cost or potential income that we have to waive,” he said.

Meanwhile, the bank’s public funding platform Sadaqa House handed out donations totalling close to RM240,000 to Mercy Mission Malaysia and Buku Jalanan Chow Kit (BJCK).

Mohd Muazzam said Sadaqa House has great potential in realising a sustainable impact on social projects which are receiving little public attention.

The donation covers a multi-purpose van to BJCK which provides educational access to marginalised individuals.

The van will be used by more than 80 BJCK residents in carrying out their daily activities.

In addition, a contribution of almost RM24,000 was channelled to Mercy Mission Malaysia for its Feeding to Educate programme which benefits 40 recipients for a year.

The programme aims to provide complete nutritional food assistance to students from low-income families.

At the same time, Sadaqa House presented a three-year financial aid to Muhammad Fayyadh Haziq Abdul Aziz, an engineering student from SEGI College.

Sadaqa House was launched in early 2018, with total donations to date exceeding RM4 million and as much as RM1.2 million has been channelled to its recipients.