Banks In Malaysia Help Flood Victims, Ease Financial Burden

<p>&nbsp;Recently, banks in Malaysia are offering assistance aimed at easing the financial burden on customers affected by the flood disaster in several states.</p><p><br /></p><p>OCBC Bank Malaysia Bhd, along with its Islamic banking subsidiary, OCBC Al-Amin Bank Bhd, is asking all affected customers, whether individuals, micro-enterprises, small and medium enterprises (SMEs), commercial and corporate, to contact the bank if they want to discuss the possibility of getting help. as well as reorganizing financing loans.</p><p><br /></p><p>All applications will be prioritized and treated on a case-by-case basis with the aim of determining the best solution for customers.</p><p><br /></p><p>According to the Chief Executive Officer of OCBC Bank, Tan Chor Sen said OCBC Malaysia always strives to support every customer affected by the flood disaster and calls on them to remain positive in this challenging situation.</p><p><br /></p><p>He also said that the floods that hit several areas in the country have caused several groups of individuals and communities to be squeezed. As part of customer facilitation efforts, they are ready to help any of those affected to deal with payment issues so that they can recover and continue to pursue aspirations.</p><p><br /></p><p><br /></p><p>OCBC Bank also urges customers not to hesitate to contact them for assistance.</p><p><br /></p><p>In addition, Alliance Bank Malaysia Bhd also offers a flood relief program to ease the financial burden of customers and businesses affected by floods.</p><p><br /></p><p>In his statement, the aid measures include offering a loan moratorium of up to six months, modification of loan repayments and exemption of fees and charges for all conventional loans and Islamic financing facilities.</p><p><br /></p><p>Group Chief Executive Officer, Kellee Kam, in the same statement said Alliance Bank understands the emotional and financial stress experienced by families and businesses affected by the floods.</p><p><br /></p><p>This flood relief is open for applications with immediate effect until January 26, 2024.</p>