KUALA LUMPUR (Jan 25): The Association of Banks in Malaysia (ABM), Association of Islamic Banking and Financial Institutions Malaysia (AIBIM), Association of Development Finance Institutions of Malaysia (ADFIM) and Agensi Kaunseling dan Pengurusan Kredit (AKPK) announced on Tuesday (Jan 25) that the closing date for the submission of applications for the Financial Management and Resilience Programme (Program Pengurusan dan Ketahanan Kewangan or URUS) had now been extended until March 31, 2022 from Jan 31, 2022.
The entities said in a statement that eligible bottom 50% income group (B50) customers who are in need of further financial assistance may apply for URUS with their banks by March 31.
They added that individual customers who are under an existing repayment assistance programme provided by banks as at Sept 30, 2021 and meet all of the following criteria may apply for URUS:
- B50 customers with gross monthly household income of RM5,880 or lower;
- Who are experiencing loss of employment or income reduction of at least 50%; and
- Whose loan/financing facility is still performing (not in arrears exceeding 90 days) as at the date of the URUS application.
According to the statement, eligible customers who wish to apply for URUS may do so via their banks’ Internet banking or telephone banking channels or walk-in at branches.
To ease the application process, it said customers with loan/financing facilities from multiple banks only need to apply with any one of their banks where they currently have performing facilities under an existing repayment assistance programme.
It added that for eligible B50 customers who had signed up for banks' flood relief assistance programmes, the URUS application closing date had been extended until July 31, 2022 or upon the expiry of the flood relief assistance programme, whichever is earlier.
“Banks remain committed to assisting their customers during this challenging period, and are mindful that customers would require time to get back on their feet financially as the economy gradually recovers.
“Customers who are still in need of financial assistance but do not qualify for URUS are encouraged to contact their banks to discuss other repayment arrangements that can be tailored to their financial circumstances,” noted the statement.
The entities also reminded customers not to engage with any third parties claiming to be agents/representatives of banks in relation to repayment assistance matters — as banks and the AKPK do not appoint or authorise any third parties or agents to act on their behalf for this purpose.