Side with the borrowers, not 'profit-making' banks, Ku Li tells BNM

Tengku Razaleigh Hamzah says commercial banks continue to make profits even during the current standstill in economic activities.

“What is the income they lose from a few months of interest from these messy hire-purchase loans? As a financial coordinating body, BNM, at a time like this, should side with borrowers.” However, ABM recently outlined two options for borrowers, either pay the accumulated six months’ deferred instalments with their October instalments without any additional interest, or continue repayment after October with a six-month extension of the original repayment period.

Many see the statements as a “U-turn” by the government and questioned if Putrajaya was siding with banks.

Ku-Li as his reputation has always stood for the people and cared for the people. This is the kind of leader that the people need. Someone though from a different world, born of royal blood, understands the suffering of commoners. Not to forget, he once was a top banker too.

Interesting....political statements. Banks are the life blood of businesses today and themselves will face pressures brought about by NPLs. Hsbc took a USD 2b provision 1 Q2020. Does he want Malaysian banks to fail and stress nation further.

Agree with him

munisjothee2 Student Loans have their own moratorium EMI formats. Bizloan has its own gestation considerations, MuhyiddinYassin Menteri tzafrul_aziz MOFmalaysia Gabenor BNM_official theedgemalaysia NajibRazak tengkurazaleigh Covid19 Moratorium...unprecedented, tweak rules effectively

Better to encourage banks to look at refinance packages. Banks have also lost money like everyone else. If u make them lose more money then good luck trying to stimulate an economy without credit from banks. Without that more businesses will close.

That’s why Malaysians must get back to work to pay up their bank loans

masuk ikut pintu belakang..hasilnya rakyat dibelakangkan..padan muka...sokong sangat pengkhianat2.tuu..

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BNM: Banks prepping moratorium agreement with borrowers | Malay MailKUALA LUMPUR, April 30 — Banking institutions are in the process of formalising revised payment agreements with their customers to reflect the moratorium for hire-purchase loans and fixed-rate Islamic financing. In a press statement today, Bank Negara Malaysia (BNM) said that this is part of the... _ucinorn here u go.
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