Which banks are involved in the loan restructuring initiative?

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Bank Rakyat and Maybank are involved in the loan restructuring initiative.

The Entrepreneur Development and Cooperatives Ministry has engaged in discussions with Bank Rakyat and Maybank concerning the restructuring of loan repayments for entrepreneurs impacted by the Covid-19 pandemic. This initiative aims to provide financial relief and support business recovery, particularly as Malaysia's borders have reopened. The minister, Tan Sri Noh Omar, has presented this proposal to the Cabinet for further consideration and implementation.
Discussions Held with Financial Institutions

Discussions have taken place between the ministry and representatives from Bank Rakyat and Maybank to establish a framework for restructuring loan repayments. Many entrepreneurs have indicated an inability to meet their loan obligations, even with existing moratoriums, prompting the ministry to seek more tailored solutions. The goal is to facilitate the resumption of business operations and enable entrepreneurs to manage their debts effectively.
Focus on Tourism Sector Entrepreneurs

A specific focus of the restructuring initiative will be on entrepreneurs within the tourism industry. This includes sectors such as tour bus operators and homestay owners who have faced prolonged periods of inactivity due to travel restrictions over the past two years. The ministry acknowledges their need for time to repair assets and restart operations before resuming full loan repayments.
Confidence in Business Recovery

The restructuring or rescheduling of loan repayments is viewed as a crucial step in assisting affected entrepreneurs to resume their businesses. Tan Sri Noh Omar expressed confidence that these measures will enable entrepreneurs to get back on track and manage their financial commitments in line with their business recovery timelines. This support is seen as vital for revitalising the national economy.

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Which banks are involved in the loan restructuring initiative?

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