moratorium

Minister Zafrul said: "If you are facing income reduction, regardless of whether you are M40 or T20, you are also eligible to receive a reduction in monthly installments."

Malaysia's Minister of Finance, Tengku Zafrul bin Tengku Abdul Aziz, has clarified queries around moratorium assistance for B40 as well as M40 groups, saying that: "The simple answer is, YES. If you lose your job, regardless of whether you're an M40 or a T20, you're eligible to apply for a moratorium, where approval is automatic."

Addressing these queries via Facebook, he added: "If you are facing income reduction, regardless of whether you are M40 or T20, you are also eligible to receive a reduction in monthly installments."

Further, Minister Zafrul shared that bank assistance is guaranteed for lenders facing financial difficulties due to the pandemic. As such, all groups (B40, M40 and T20), inclusive of lenders and recipients, as well as micro-businesses and SMEs in sectors unauthorised sectors to operate during the lockdown can also opt to get moratorium for three months or 50% installment refund for six months automatically.

He also encouraged all demographics to get the exact information from facts can be referred to from official sources such as Bank Negara Malaysia.

Photo / Minister Zafrul's Facebook

Follow us on Telegram @humanresourcesonline or click here for all the latest weekly HR and manpower news from around the region!