KUALA LUMPUR, Nov 16  -- Bank Muamalat Malaysia Bhd will provide enhanced targeted payment assistance to its B40 and micro-enterprise customers who have been financially impacted by the COVID-19 pandemic. 

The bank said the financial assistance is aimed at B40 customers, comprising Bantuan Sara Hidup (BSH)/Bantuan Prihatin Rakyat (BPR) recipients and micro-enterprises with approved financing amount of up to RM150,000.

Eligible customers can choose to opt for a three-month deferment of instalment payment or a 50 per cent reduction in instalment payments for six months.

Those who opted out of the automatic moratorium announced in March 2020 are also eligible for the assistance, it said in a statement today. 

The bank said customers whose financing was approved before Oct 1, 2020 and are not in arrears exceeding 90 days at the date of request would be eligible for the facility.

Bank Muamalat chief executive officer, Khairul Kamarudin said the bank has reached out to customers through various social media platforms to ensure that customers are aware of the assistance.

He said following the Budget 2021 speech by the Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz on Nov 6, the enhancement to the targeted payment assistance would be effective from Dec 1, 2020 until June 30, 2021. 

Customers may submit their requests to Bank Muamalat starting Nov 23, 2020, Khairul said.

As for M40 customers who are registered as Bantuan Prihatin Nasional (BPN) recipients, the bank said it has simplified the application process for the payment assistance, and applicants are only required to provide a self-declaration of their reduction in income to apply for the assistance.

Customers who need further information on the assistance are advised to visit the nearest branch or contact Bank Muamalat at 03-2600 5500 or visit its website at www.muamalat.com.my. 

-- BERNAMA