KUALA LUMPUR, Dec 23 (Bernama) -- Agrobank today announced a flood relief assistance plan to aid customers affected by the current flood disaster in the country. The Bank is committed to providing flood relief support and will mobilise its rescheduling and/or restructuring (R&R) plan and moratorium up to six (6) months for qualified customers. These plans are extended to Agrobank customers affected by the floods in Pahang, Kuala Lumpur, Selangor, Negeri Sembilan and other affected states nationwide.
According to Khadijah Iskandar, Covering President / Chief Executive Officer of Agrobank, “The relief assistance aims to alleviate and lessen the financial burden faced by Agrobank customers impacted by the floods. We are deeply aware of the challenges affected by the current flooding situation that caused damage to our customers’ properties, farms and agricultural activities which impacted their businesses as a whole. Therefore, Agrobank Flood Relief assistance is offered to mitigate the situation and help our affected customer during this difficult time.”
“It is a very challenging time for our fellow Malaysian and it is important for us to provide assistance through any means possible. Based on the recent announcement by Bank Negara Malaysia (BNM), Agrobank will also be providing financial aid to micro and small and medium enterprises (MSMEs) affected by the recent floods under the Disaster Relief Facility 2022 (DRF 2022) amounting RM200million (shared with other commercial and Islamic banks and DFIs),” said Khadijah Iskandar.
“We understand that some customers require time to develop their new plan and recover. The moratorium period and R&R programme will facilitate their recovery process. For eligible customers, they may apply for additional facilities too to rebuild their business. Our team will reach out to those in need,” added Khadijah Iskandar.
The flood relief assistance is designed to address the challenges of the flood victims which includes:
· Moratorium of financing – for customers who lost source of income and projects damaged can be considered to deferment of monthly instalments up to 6 months.
· Restructuring or/and rescheduling (R&R) of financing for qualified customers affected by the flood disaster.
· Waiver of charges for affected customers seeking replacement of ATM cards and passbooks which were destroyed in the floods.
· Disaster Relief Facility 2022 (DRF 2022) under BNM - financing up to RM500,000 per SME and RM75,000 per micro-enterprise with financing rate of 3.5% per annum, inclusive of guarantee fee (available from 27 December until RM200 million is fully utilised).
For more information about Agrobank Flood Relief assistance, please contact our customer service at 1300-88-2476 or e-mail to
customer@agrobank.com.my or visit
www.agrobank.com.myABOUT AGROBANKAgrobank is a leader in agriculture financing and values-based banking based (VBI)* in Malaysia. Established in 1969, Agrobank is actively involved in charting the growth and development of Malaysia’s agriculture industry by offering shariah compliant products and solutions across various customer segments including micro, small, medium and large retail and business customers. Agrobank is a full-fledged Islamic bank since 1st July 2015.
As a market driven, customer centric DFI (Development Financial Institution) with a primary focus on strengthening the agriculture sector in Malaysia, Agrobank strikes an equal balance to its developmental and commercial roles to benefit the agriculture sector. Agrobank provides a comprehensive repertoire of financing solutions for the agriculture community; that includes upstream activities related to primary food and commodities-based agriculture activities to downstream activities such as processing, marketing and distribution of agricultural products.
Agrobank also offers retail banking financing solutions to improve the well-being of the agriculture community. This is done through its network of 207 touchpoints as of 2020 which include 139 branches, 33 kiosks, 19 commercial centers and 16 other touchpoints.
In 2019, Agrobank celebrated its golden jubilee Anniversary, as it marks 50 years of its proud establishment developing the agro industry.
www.agrobank.com.my*VBI or value-based intermediation is an initiative by Bank Negara Malaysia (BNM) which aims to improve the products and services offered by Islamic financial institutions towards a better facilitation of entrepreneurship, community well-being, sustainable environment and economic growth, without compromising on shareholders’ returnsIssued by Corporate Communications Department, AgrobankSource : AgrobankFORE MORE INFORMATION, PLEASE CONTACT:Name: Shahreen Rahim Section Head of Public Relations, Corporate Communications Department, Agrobank Tel: 03-2731 1660 (ext 1660) / +6012-943 6217
Email: shahreen.rahim@agrobank.com.my Name: Syarifah Syameen Syed JohariSenior Executive, Public Relations, Corporate Communications Department, AgrobankTel: 03-2731 1652 / +6012-310 1766
Email: syameen@agrobank.com.my--BERNAMA 
