Bank Islam ready to accept applications for enhanced targeted repayment assistance

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KUALA LUMPUR (Nov 22): Bank Islam Malaysia Bhd is ready to accept applications for the enhanced targeted repayment assistance (ETRA) from B40, M40, and microenterprises adversely impacted by the Covid-19 pandemic starting from tomorrow.

The ETRA was announced by Finance Minister Tengku Datuk Seri Zafrul Aziz at the tabling of Budget 2021 earlier this month.

It said B40 individuals (recipients of Bantuan Sara Hidup/Bantuan Prihatin Rakyat), microenterprises (as defined by SME Corp Malaysia, with approved loan facilities of up to RM150,000) and M40 registered individuals under Bantuan Prihatin Nasional database (self or household income affected) may get a three-month deferment of monthly instalments or reduction of monthly instalments by up to 50% for six months.

Of these three categories, only the M40 group needs to submit a self declaration form (to declare the reduction in income), Bank Islam said in a statement today.

The options are available to all financing approved before Oct 1, 2020 that are not in arrears for more than 90 days at the time of application.

Customers who previously received other forms of targeted repayment assistance and who wish to request for further assistance under these additional measures can still do so by contacting Bank Islam.

Bank Islam chief executive officer Mohd Muazzam Mohamed said since the outbreak of the Covid-19 pandemic, the bank has offered multiple options to alleviate the financial constraints on its customers.

"Bank Islam is aware that this pandemic has brought about many uncertainties and urges our customers to assess their financial health continuously.

"Our message has been very consistent since the very beginning and that is, we are here to help. If you need assistance, reach out to us, and we will do our best to help you tide over this difficult period. Similar to the targeted repayment assistance, the ETRA is available until June 2021," he said.

For application forms, enquiries, and further information on Bank Islam's post-moratorium assistance, customers can visit the bank's website at www.bankislam.com/covid-19. Applications can also be made by calling Bank Islam's contact centre at 03-26 900 900.