Finance Minister, Tengku Datuk Seri Zafrul Abdul Aziz announced that Bank Simpanan Nasional (BSN) will be offering an interest free loan of up to RM10,000 to flood victims instead of the original RM5,000 announced a week ago.
According to the minister, the allocation is allocated to help flood victims buy new equipment or furnishings to replace those destroyed in the recent floods.
Furthermore, Tengku Zafrul also mentions that there will be a six-month moratorium in place for the first six months on the payment of monthly installments which is open to flood victims nationwide.
The move is in line with a statement made by the Finance Minister himself, who announced that discussions have been made with financial institutions to ease the burden of flood victims.
“A discussion between MOF and BNM, ABM, AIBIM and ADFIM serves as proof that financial institutions are ready to provide assistance to customers who are affected by the flood.”