Banks reaffirm commitment to provide financial assistance to borrowers in need

July 6, 2023

Kuala Lumpur, Thursday, 6 July 2023 – Member banks of The Association of Banks in Malaysia (ABM) would like to reassure the public that they remain committed to providing financial assistance to borrowers who are facing financial hardships. 

Borrowers who are having difficulties in meeting their loan repayments should approach their banks to discuss financial assistance measures, such as rescheduling and restructuring (R&R), to help alleviate some of the strain on their cash flow position.

The banks are fully supportive of the call by YAB Prime Minister for banks to offer R&R to individuals and small and medium enterprises (SMEs) in need.   

Borrowers who are in need of financial assistance are advised to contact their respective banks through their banks’ official channels, as soon as possible to discuss financial repayment options that suit their own individual financial circumstances.  

Alternatively, borrowers in need may seek help from Agensi Kaunseling dan Pengurusan Kredit (AKPK) under the Debt Management Program (DMP) for individuals or the Small Debt Resolution Scheme (SDRS) for SMEs.

Customers are reminded to be wary of scammers and only apply for any financial assistance through official bank channels. Bank customers are also advised not to deal with any third parties claiming to be agents/representatives of the banks on matters relating to repayment assistance. Banks do not appoint or engage third parties or agents for this purpose.

ABMConnect | Toll-free on 1300-88-9980

ABMConnect provides an avenue for consumers to clarify any doubts and verify information on conventional banking issues.