Finance Minister will discuss with banks for moratorium extension

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz will be discussing with banks regarding the moratorium extension, which is set to end in September.

He said that the government cannot force the banks to extend the loan moratorium and will continue discussions with them.

 "There have been requests from those who need more time. On the government's part, we are still engaging with the banks and it is really up to them whether they can or cannot," Tengku Zarful told Malay Mail.

Tengku Zafrul added that it was his personal view that the extension of the moratorium should targeted at those who needs it most. "As a personal view, we need to help those who are in need of help. Maybe the way forward is to focus on targeted group."

He advised borrowers not to wait until the moratorium expires but start engaging with their banks if they need to reschedule their loan repayments. “Especially those who have lost their jobs and had their pay reduced. Please see your bank now and restructure (your loan repayment).”