KUALA LUMPUR, March 27 (Bernama) -- Bank Muamalat Malaysia Berhad (“Bank Muamalat”) will automatically defer or suspend all financing payments for a period of six months for individual customers, small and medium-sized enterprises (SMEs) effective April 1, 2020. This move is to provide assistance to customers which may be financially impacted by the COVID-19 outbreak and by the accompanying Movement Control Order (MCO).
 
Chief Executive Officer of Bank Muamalat, Encik Khairul Kamarudin said, Bank Muamalat welcomes and fully supports Bank Negara Malaysia’s announcement that it has ordered all banks to grant an automatic six-month moratorium (deferment) of all loan/financing repayments. The moratorium shall also be applicable to those who have previously accepted Bank Muamalat’s COVID-19 moratorium or applied to reschedule and restructure their financing obligations. For those who do not wish for the moratorium shall opt out by filling in the Service Request Form (The Form). The Form and Bank Muamalat frequently asked questions (FAQs) may be obtained at Bank Muamalat website.
 
Bank Muamalat will continue to be here for its customers. For those who require assistance as a result of these difficult and emotionally challenging times, a range of measures are made available.
 
We will continue to provide customers with updates on the Covid-19 situation on our website and our social media sites such as FaceBook, Instagram and Twitter.

About Bank Muamalat Malaysia Berhad
Bank Muamalat is a leading Islamic bank, established on 1 October 1999, and is governed by Islamic Financial Services Act 2013 (IFSA). As a full-fledged Islamic financial institution, the bank offers its customers a broad range of services, meeting the needs of both individuals and institutions.
 
In essence, Bank Muamalat provides individuals with services ranging from deposit accounts, asset management, financing needs for automobiles, homes and personal use as well as wealth management products such as family and general takaful, investments, Islamic estate planning to non-financial products such as Islamic funeral management, Quranic learning and halal tours. The Bank offers corporate and institutional customers the full product range of a leading corporate and investment bank, from cash management, payment solutions including trade and export finance to international foreign exchange, financing and capital market transactions. 
 
Bank Muamalat has presence nationwide via a network of 65 branches. In addition, Bank Muamalat also has its electronic channels encompassing i-Muamalat (the Bank’s internet banking solution) and e-Muamalat which is available at almost 141 locations through its network of ATMs, CDMs and CDTs.
 
Bank Muamalat is a member of the DRB-HICOM Berhad Group which owns 70% of the Bank’s shares with the remaining stake held by Khazanah Nasional Berhad.
 
Bank Muamalat was officially accepted as a member of Global Alliance for Banking on Values (GABV) on 15 November 2017. Signaling a growing appetite for the values-based banking movement, Bank Muamalat is the first Islamic bank in the world and the first in Southeast Asean region to be accepted as a member of GABV.

Source: Bank Muamalat Malaysia Berhad

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Saidatul Leiza Suleiman
Tel: +6011 1061 5266 
Email: leiza@muamalat.com.my

--BERNAMA