DPMM INTRODUCES PROGRAMME TO HELP EASE BURDEN OF BORROWERS
KUALA LUMPUR, Oct 3 -- The Malaysian Malay Chamber of Commerce (DPMM) has introduced a programme to help reduce the burden of those deep in debts.
Its president, Dr Abd Halim Husin said through the programme, DPMM had put forward various recommendations, including for financial institutions to accept repayment by borrowers even if it is only RM1 a day or RM30 a month.
For those with outstanding balance of only 20 percent of the total debt, they could be allowed to settle it within three months without any service charge, penalty or fine, he added,
The programme, held with the cooperation of Bank Negara, financial institutions, Credit Counseling and Management Agency and the Malaysian Muslim Consumers Association, will involve roadshows to 32 districts nationwide.
The tour will start with Putrajaya, Muar (Johor) and Seremban 2 (Negeri Sembilan) on Oct 17: Melaka Tengah(Oct 19) and Sungai Petani (Kedah) on Oct 21, he told Bernama at his office in Bukit Damansara here.
Abd Halim said the programme was introduced, among others, to assist entrepreneurs or traders to manage their debts during the targeted moratorium period between October and December; to make borrowers aware of their responsibility to pay their debts and assist borrowers to settle their debts through restructuring and rescheduling of their repayments.
-- BERNAMA
Malaysian Malay Chamber of Commerce (DPMM), Dr Abd Halim Husin, debts, settlement
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