Credit co-ops  proposed to offer moratorium
Published on: Tuesday, March 24, 2020
By: Bernama
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Kuala Lumpur: The Angkatan Koperasi Kebangsaan Malaysia Bhd (Angkasa) has proposed for 580 credit cooperatives (co-ops) and commercial banks, including co-op banks which utilise the Angkasa Salary Deduction System, to offer at least three-month moratorium on loans.

In a statement on Monday, Angkasa said the proposal should be taken into consideration as co-op customers working in government-linked companies or the private sector may be more affected by the Movement Control Order, compared with those working in the public sector.

“Angkasa welcomes the move by commercial and co-op banks to implement a moratorium of up to six months, and urge for the moratorium to be expanded to include co-ops which utilise their financial services,” it said. – Bernama


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