The Prime Minister, Datuk Seri Ismail Sabri Yaakob has announced the implementation of the Financial Management and Resilience Program (URUS) to help the bottom 50 percent or B50 group.
URUS is a comprehensive loan repayment assistance support program and will be offered to affected B50 customers, Astro Awani reported.
Apart from that, it also includes borrowers who are in the B40 household category, namely those whose gross household income is less than RM5,880 per month.
Among the facilities offered are interest exemption for up to 3 months, reduction in installment payments for a period of up to 24 months, including reduction in interest rates.
“During this period, customers with unsecured loans or financing and personal credit cards can also benefit from reduced interest rates to help ease their financial burden.” Ismail said.
Meanwhile, he also explained that this program has been designed by the banking sector together with Bank Negara Malaysia (BNM) and the Credit Counseling and Management Agency (AKPK) and further details on it will be detailed by the Ministry of Finance.
“Initiatives by the banking sector clearly reflect the spirit of the Malaysian Family and
complement the Government’s efforts to assist B50 borrowers who have previously benefited from the moratorium program announced under the Government’s assistance and stimulus packages since March 2020.” he said.
He added that the government hopes that through his whole-of-nation approach, we can realise our aim for Malaysia to be a prosperous, inclusive and sustainable nation.
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