Banks offer financial relief to SMEs affected by pandemic PETALING JAYA: Local banks are offering special relief facility to SMEs affected by the Covid-19 pandemic. AmBank said for its financing of up to RM1 million, approval will be provided within 24

reducing the disbursement timeframe further,” AMMB Holdings Bhd group CEO Datuk Sulaiman Mohd Tahir said in a statement.

It will review the need for additional programmes to address the credit and financing needs of individual customers.

Public Bank said it is working with Bank Negara Malaysia to offer the special relief facility to SMEs, with faster loan approval and disbursement to assist eligible SMEs to overcome their financial constraint.

It is offering an immediate moratorium of up to six months for the monthly instalment payments of loans and financing for individual and business customers affected by the outbreak.

It will continue to accommodate requests by affected customers to restructure or reschedule their loans and financing.

“As the outbreak escalates, Public Bank will continue to be active in providing financial relief measures to help all its customers to alleviate their financial difficulties,” Public Bank managing director Tan Sri Tay Ah Lek said.

Meanwhile, MBSB Bank Bhd said for retail customers, it offers a sixmonth moratorium on installment payment for financing and with option to restructure or reschedule financing.

For corporate and SME clients, who are directly or indirectly affected by the pandemic, especially those in industries such as hospitality and tourism, may apply for financing restructuring and rescheduling.