Banks will not pressure families of missing Malaysians

KUALA LUMPUR: Malaysian banks have pledged not to pressure the families of 54 missing individuals from the Nepal flood tragedy, according to Malaysia Solidarity Families in Hope (Masfih). Dr R. Manivannan, Masfih's coordinator and spokesperson, disclosed that this assurance came from a two-and-a-half-hour meeting at Bank Negara Malaysia (BNM) where financial institutions, insurers, and the families' next of kin participated.

The banks have promised not to pursue loan repayments or other payments until an agreement is reached, he added. Masfih welcomed the commitment but is still waiting for a written framework from BNM outlining protective measures for the families. The families require a clear, coordinated solution to address their family members' outstanding financial obligations, Manivannan emphasized.

A severe flood struck the Himalayas on August 26 after a mountain and glacier collapse near Nepal's border with China, causing over 1,400 deaths and leaving more than 5,000 people missing. Masfih submitted a 35-page proposal to BNM, advocating financial relief measures, such as addressing outstanding loans and other liabilities while the missing individuals' status remains unresolved.

The meeting aimed to establish a coordinated approach involving BNM, financial institutions, and relevant government agencies to prevent families from dealing with banks and insurers individually. Manivannan stated that the interim assurance was a positive step but should not replace a formal policy addressing the families' financial concerns.

He called for an urgent meeting with the Prime Minister to help coordinate a government response and secure clear assurances on the way forward.