The Ministry of Finance (MOF) has directed banking institutions to work for the exemption of interest payments for recipients of the bank loan moratorium immediately.

“This involves the recipients of the moratorium from the bottom fifty percent of all Malaysians for a period of three months in the fourth quarter of 2021,” says Minister of Finance, Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz.

“All banking institutions have been instructed to work for interest payment exemptions for recipients of the bank loan moratorium immediately,” he says.

Today at the Parliament, Prime Minister Datuk Seri Ismail Sabri Yaakob said that the government would consider calls to compel lenders to waive interest fees on deferred loan repayment under Putrajaya’s loan moratorium programme.

“I will discuss this with the minister of finance and God willing, we will try our best to help,” he said.

In a media release on the memorandum of understanding (MoU) signed by the government and the opposition Pakatan Harapan, Zafrul spoke on the vaccination programme and Budget 2022.

Zafrul also says the effectiveness of the vaccine enabled the opening of more economic sectors and next through the 2022 Budget, the MOF would strive to accelerate economic recovery through the formulation of business and investment-friendly policies, as well as further enhance the country’s resilience.

“The 2022 Budget will also implement several aspects of restructuring that will support the objectives of the 12th Malaysia Plan in driving more sustainable, sustainable and competitive growth.

“The focus on efforts to combat the Covid-19 pandemic and the spirit of cross-party consensus that has been achieved will hopefully bring back light to the people,” he says.

“MoF is confident that the MoU signed yesterday will continue to support economic recovery and the GDP growth projection of between 3.0 per cent and 4.0 per cent for this year,” Zafrul says in a statement today.