Families of Malaysians missing in Nepal submit financial ‘rescue plan’ to BNM

Families of the 54 Malaysians who are missing in the Nepal floods have presented a proposal to Bank Negara Malaysia, aiming for a structured financial protection framework. R Manivannan, the group's spokesman, outlined the plan during a meeting with banking, finance, and takaful association representatives. The proposal details measures for liability defence, asset protection, and business continuity, according to Manivannan.

Following the meeting, Manivannan stated that banking institutions have agreed in principle to halt debt collection efforts until formal guidelines are finalized. No action will be taken against the families until an agreement is reached, he told reporters. The group seeks full loan moratoriums, which would waive accrued interest, late payment penalties, and arbitrary extensions to loan tenure.

Manivannan did not disclose further details about the proposal, but he emphasized that the families' legal limbo makes it difficult for them to access bank accounts, investments, or insurance policies. The recent Nepalese decision to presume victims dead 45 days after they go missing could expedite the resolution, as the 45-day mark has already been passed.