Commercial banks stand ready to assist businesses affected by the Novel Coronavirus (2019-nCoV) outbreak

February 11, 2020

Kuala Lumpur, Tuesday, 11 February 2020 – The financial industry is cognizant of the current 2019-nCoV outbreak affecting businesses and industries globally and locally. In view of the situation, The Association of Banks in Malaysia (ABM) would like to state that our member banks stand ready to assist with coordinated measures to businesses affected by the 2019-nCoV outbreak.

Concerted efforts by our member banks are underway to ensure that bank customers are able to weather through during this trying time and to ensure business continuity. We therefore, advise businesses experiencing financial difficulties arising from the current 2019-nCoV outbreak to consult with their banks as soon as possible to discuss their options pertaining to their loan commitments and/or repayments.

In addressing the adverse financial circumstances faced by borrowers brought upon by the 2019-nCoV outbreak, options may involve loan rescheduling & restructuring and/or moratorium on loan repayment(s). Such assistance would be subject to independent assessment by member banks on a case-to-case basis.

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