Tengku Zafrul addresses the media during the Pemulih package press conference. — Bernama
PUTRAJAYA (June 29): Banks will waive the compounded interest and penalty charges incurred during the six-month loan moratorium under the National People’s Well-Being and Economic Recovery Package (Pemulih), said Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz.
He said the government had raised the matter with the banks during their meeting recently and they had agreed to it.
“Report and complain if the banks raise a compound (interest) and charge a penalty (on the moratorium),” he said told a press conference here today.
Yesterday, Prime Minister Tan Sri Muhyiddin announced a six-month moratorium on loan repayments for individual borrowers across all income brackets.
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