It looks like the controversy over the six-month moratorium that has become the talk of the town of late is all about how Bank Negara Malaysia is caught between the Finance Minister Tengku Zafrul Tengku Aziz on the one side, and the banking industry on the other.
In light of the above statement, it makes full sense that Prime Minister Muhyiddin Yassin on announcing the stimulus package the day before had profusely thanked the banks for their assistance in agreeing to the six-month moratorium. The banks, of course, have the right to compound the interest on this deferred loan accumulated for six months, but as we can see from Zafrul’s statement on Awani, the banks had already decided not to compound the interest.
But it was also the die-hard attitude of Zafrul that could save the rakyat from the clutches of the bankers when he insisted recently that he had already announced more than a month ago to the rakyat that banks had already agreed to forego compounded interest and made an appeal to banks, when he doesn’t have to, to forego the compounded interest.
Yes, the banks did give this option of a lump sum settlement but at the moment when moratorium is lifted in October.
Bnm is regulatory only monitor not implement it, ask back this question , is it feasible or not , some don't have banking bank ground , no matter you till owe bank for back payment which means it would place back of the loan
Roth Side
BNM IRRESPONSIBLE !! to RAKYAT but only PROFIT Concerned.
'Boo' to both BNM and Banks. The victim now is the bank customers ‼❗
Have the banks decided already whether to scrap the interest or not?