BNM extends repayment deferments to families of Nepal-China flood victims

KUALA LUMPUR: Bank Negara Malaysia (BNM) has announced that repayment deferments have been extended to families impacted by the recent floods in the Nepal-China border region. In a statement, the central bank revealed that banks and insurance and takaful operators (ITOs) have been working directly with the affected families following a meeting between BNM and their next of kin on October 12.

The central bank further explained that banks and ITOs are considering additional assistance tailored to the unique circumstances of each affected family. This could include waivers of certain fees and charges, protection of customer assets and deposits, and facilitating insurance or takaful claims. The bank urged affected families to maintain open communication with their respective financial institutions.

Should they need further help or have any questions, they can contact their respective financial institution for more information, BNM added.

BNM and the financial industry reiterated their commitment to providing appropriate relief and support to the victims' families, all in line with relevant laws and regulatory requirements. The central bank assured that it would keep a close eye on the progress of these initiatives.