Sabah Floods: Banking Sector Commits To Financial Relief For Affected Customers

KUALA LUMPUR, Sept 19 (Bernama) – The banking industry has pledged wide-ranging financial relief and assistance to communities in Sabah affected by the recent floods.

The Association of Banks in Malaysia (ABM) and the Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) said their member banks have mobilised measures, including loan and financing deferment, rescheduling and restructuring of loans and financing, free replacement of bank documents and cards, special financing packages for recovery and waiver of late payment fees.

In a joint statement today, the two associations expressed their sympathy to families who lost homes, livelihoods and loved ones and stand with every individual and community affected by the disaster.

They added that participating banks are also working with non-governmental organisations to deliver food, clean water and other essential supplies on the ground.

"We understand that recovery takes time, and our member banks continue to be committed to supporting affected customers and communities. We encourage anyone experiencing difficulties or facing challenges to come forward and engage with their bank to explore the options available,” the statement said.

ABM and AIBIM added that their outreach includes offering support and advice on flood relief funds, insurance and takaful claims and available banking assistance.

-- BERNAMA