Banks offer assistance to aid flood victims
KUALA LUMPUR: Banks in Malaysia are stepping up with financial aid assistance for customers affected by the flood situation in several states in Malaysia.
Corporate, SME and individual customers of OCBC Bank (Malaysia) Berhad (OCBC Bank) and OCBC Al-Amin Bank Bhd (OCBC Al-Amin) affected by the current spate of floods affecting Kelantan, Pahang, Terengganu and Johor may seek a deferment or restructuring of their existing loans or financing through the Banks’ dedicated channels.
Eligible personal banking and SME customers can look forward to support through a threemonth deferment of instalments or a 12-month reduction in instalments.
According to OCBC Bank chief executive officer Datuk Ong Eng Bin, the bank is commi ed to assisting its customers, especially those who have been affected twice over by the pandemic and now the floods.
“When the floods hit, we made a RM100,000 contribution to Mercy Malaysia for their flood relief programmes involving everyone who has been affected,” he said in a statement.
“But we also see the need to render more particular assistance to our affected customers as well. We know some of them might have been badly hit.
“While we have already been in touch with several of these customers, we encourage those who still need the assistance to come forward immediately.”
Meanwhile, Alliance Bank is offering its flood relief assistance initiative which comprises a sixmonth loan moratorium, loan repayment modifications, and waivers of fees and charges for selected services.
The services include replacement of debit cards, automated teller machine (ATM) cards, cheque books and passbooks lost or damaged by floods.
Group chief executive officer Joel Kornreich said affected customers can contact the bank to discuss the relief package that meets their needs.
Meanwhile, Hong Leong Bank and Hong Leong Islamic Bank have also mobilised a flood relief assistance programme offering a payment moratorium of up to six months for all loan and Islamic banking facilities, including credit card.
Additional financing will also be made available to existing small and medium enterprises and commercial customers who require working capital to facilitate their business recovery as a result of the recent floods, the group said in a statement.
Hong Leong Bank group managing director and chief executive officer Domenic Fuda said affected customers who are currently receiving assistance under the bank’s Payment Relief Assistance Plan, as well as customers under the Payment Relief Assistance for B40, M40 and microenterprises for Covid19-related issues, are also eligible to apply for the flood relief assistance.
“The bank is also offering free replacement of bank-related documents such as debit and credit cards, as well as cheques and bank statements damaged or lost in the floods,” he said in a statement.
As part of its community disaster response efforts, the bank has pledged a donation of RM200,000 to non-profit organisation Mercy Malaysia.
The bank said the donation would help Mercy Malaysia in health and Covid-19-related safeguarding and services, food supply, logistics support for response mobilisation, as well as water, sanitation and hygiene support.
When the floods hit, we made a RM100,000 contribution to Mercy Malaysia for their flood relief programmes involving everyone who has been affected.
Datuk Ong Eng Bin