What support does Bank Islam provide for job-loss victims?

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Bank Islam Offers Extended Moratorium for Job Loss Victims

Bank Islam is providing a three-month moratorium extension for customers who lost their jobs in 2020 and remain unemployed. This measure is part of the bank's targeted repayment assistance program aimed at alleviating financial pressures and stabilising cash flow for affected individuals.
Extended Moratorium for Unemployed

Customers who experienced job loss in 2020 and are currently without employment are eligible for an additional three-month moratorium. This extension begins after the conclusion of the existing moratorium period, offering a crucial window for financial recovery.
Targeted Repayment Assistance Program

This extended moratorium is a component of Bank Islam's broader targeted repayment assistance initiative. The program is designed to offer tailored solutions to customers facing financial difficulties due to the pandemic's economic impact.
Financial Relief and Cash Flow Stabilisation

The primary objective of this assistance is to help customers manage their financial constraints effectively. By providing this relief, Bank Islam aims to support the stabilisation of their cash flow during a challenging economic period.
Broader Support for Income Reduction

Beyond those who have lost their jobs, Bank Islam is also extending support to individuals experiencing significant income loss due to reduced working hours or pay cuts. These customers may be offered reduced monthly instalments, with payment flexibility of up to six months from the end of the existing moratorium period, depending on their financing type.

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What support does Bank Islam provide for job-loss victims?

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