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KUALA LUMPUR (Jan 15): AMMB Holdings Bhd (AmBank) is providing a moratorium of up to six months for customers who are currently affected by the floods.
In a statement, the banking group said the flood relief moratorium will involve monthly instalments or repayments for all loans and financing facilities, including credit card facilities.
It added that it will waive all incidental replacement charges for affected customers who need to replace their passbooks, cheque books, fixed deposit certificates, ATM, credit cards and debit cards.
AmBank chairman Tan Sri Azman Hashim said the group is reaching out to its customers who have been affected by the floods.
FINANCIAL Industry Collective Outreach (Finco), a collaboration between all financial institutions in Malaysia with the guidance of Bank Negara Malaysia, announced a new financial literacy programme that will be launched in selected primary schools early next year.
The programme will be built on current efforts of individual financial institutions to address low levels of financial literacy, particularly among students from underprivileged communities. It will also support Malaysia’s national strategy for financial literacy.
Finco chief executive officer Clare Walker explained, “Finco sees an opportunity to build on existing financial literacy programmes and address the ‘knowing-doing gap’ by providing students with the opportunity to apply financial literacy concepts to real-life situations.