Take Care, Stay Home

AICB’s COVID-19 Resource

Since the implementation of the Movement Control Order (MCO) on 18 March 2020, several important government measures and banking initiatives have been introduced to ease the people’s burden in this time of uncertainty and to strengthen public trust. AICB has developed this dedicated section on COVID-19 to provide members and the community with a one-stop reference for useful resources, including key announcements, measures and guidelines on developments, particularly in the banking sector.

Following the recent transition to the Recovery stage of the MCO, we will continue to update the content accordingly.

We would also like to express our thanks and appreciation to all the frontliners who are risking their lives to protect us. Let us continue to maintain solidarity with our fellow Malaysians in the fight to flatten the curve of COVID-19 infections and continue to stay at home, remain calm and carry on with our daily lives to the best of our ability.

KEY REFERENCES ON COVID-19 ASSISTANCE MEASURES

Below are references on the various measures implemented by Bank Negara Malaysia (BNM), the Malaysian Government, and AICB member banks to address the impact of COVID-19 on the economy.

BNM References

Publications

Financial Stability Review 1H 2021

BNM Annual Report 2020

Financial Stability Review 2H 2020

Financial Stability Review 1H 2020

Information Portal

Loan Repayment Assistance

BNM COVID-19 Assistance Information Portal

Key Announcements/Press Releases

20Nov	Loan Repayment Assistance for M40
30April	Reiteration of Our Statements on Moratorium
30April	Operationalisation of Moratorium for Hire-Purchase Loans and Fixed Rate Islamic Financing
27March	Additional Measures to Further Support SMEs and Individuals Affected by the COVID-19 Outbreak
25March	Measures to Assist Individuals, SMEs and Corporates Affected by COVID-19
20March	International Reserves of Bank Negara Malaysia as at 13 March 2020
17April	Essential Financial Services to Remain Accessible to Households and Businesses

Government References

The Malaysian Government introduced the following special stimulus packages and SOPs to boost the country’s economic activity and ensure the wellbeing of Malaysians during this global outbreak.

Pelan Pemulihan Negara (PPN) - SOP Fasa 4

Majlis Keselamatan Negara

Pelan Pemulihan Negara (National COVID-19 Recovery Plan)

Applications For PEMULIH Loan Moratorium Start Today - Here’s What You Need To Know

Movement Control Order Standard Operating Procedures (SOPs)

The National Immunisation Programme (NIP) 2021

MCO 2.0 Extended with Stricter Measures

FAQ on COVID-19 Vaccine Study in Malaysia by Institute for Clinical Research (ICR)

Frequently Asked Questions on Vaccines and Immunisation

COVID-19 Positive? Here’s What To Do

MCO 2.0 from 13 to 26 January 2021

Official CMCO SOPs for States in Peninsular Malaysia as at 7 December 2020

Ministry of Health COVID-19 Resource

PRIHATIN Economic Stimulus Package

PRIHATIN ESP Information Kit

My Sejahtera

COVID-19 Assistance Measures by AICB Member Banks

To support the Malaysian economy during these unprecedented times, several banks — including AICB’s member banks — announced initiatives to assist Malaysians, including a six-month moratorium on loan repayments for credit cards, mortgage loans — housing and property, and car loans/hire purchase. The following are the various initiatives introduced by the respective banks.

Commercial Banks

Affin Bank Berhad

Citibank Berhad

Hong Leong Bank Berhad

HSBC Bank Malaysia Berhad

COVID-19 Relief and Guidance

Malayan Banking Berhad (Maybank)

MBSB Bank Berhad

Moratorium Notices

OCBC Bank (Malaysia) Berhad

Public Bank Berhad

COVID-19 Updates and Support

RHB Bank Berhad

Standard Chartered Bank Malaysia Berhad

United Overseas Bank (Malaysia) Berhad

COVID-19 Financial Relief Measures

Islamic Banks

Bank Islam Malaysia Berhad

Bank Muamalat Malaysia Berhad

Kuwait Finance House Malaysia Berhad

Repayment Assistance

Development Financial Institutions (DFIs)

Bank Kerjasama Rakyat Malaysia Berhad (Bank Rakyat)

Borang Permohonan Bantuan Bayaran Pembiayaan PEMULIH

Bank Pembangunan Malaysia Berhad (BPMB)

COVID-19 Moratorium for BPMB Customers

Bank Pertanian Malaysia Berhad (Agrobank)

Moratorium: Application to Dismiss Postponement of Payment

Export-Import Bank of Malaysia Berhad (EXIM Bank)

Special Scheme

Small Medium Enterprise Development Bank Malaysia Berhad (SME Bank)

COVID-19 Assistance Measures (Global)

Many global efforts are also helping to support communities during the outbreak. UNEP Finance Initiative’s coalition of over 200 banks from over 60 countries has been sharing practices, solutions and lessons learned as they respond to the COVID-19 crisis and its economic impacts.

United Nations Environment Programme (UNEP) Finance Initiative

Signatories Share Responses to COVID-19

International Monetary Fund (IMF)

Emergency Financing and Debt Relief

Policy Responses to COVID-19

The IMF’s Response to COVID-19

Fiscal Measures in Selected Economies in Response to the COVID-19 Pandemic

SUPPORTING OUR COMMUNITIES AND FRONTLINERS
AICB member banks have come together to offer financial help to communities, businesses and the healthcare sector affected by the COVID-19 outbreak. If you wish to donate and help this cause, please click on the respective links below for more details.
Fundraising Initiatives by AICB Member Banks
Affin Bank Berhad
AXA AFFIN “Smash the Curve” COVID-19 Fund Raising Campaign
Alliance Bank Malaysia Berhad
#SupportLokal Online Bazaar
CIMB Bank Berhad
CIMB Cares
Malayan Banking Berhad (Maybank)
The People’s Campaign

PRESS RELEASES ON DEVELOPMENTS AND INITIATIVES

AICB is pleased to share key press releases on developments and initiatives by the Government and its entities, banks and other financial institutions, in relation to the COVID-19 pandemic

Banking
3 June 2021	The Malaysian Reserve Loan moratorium for all B40, says minister
12 Oct	Malay Mail Banking institutions ready to assist clients in CMCO, EMCO areas
8 Oct	CNN The pandemic is driving a boom in investments to fix the climate crisis
30 Sept	The Edge Markets As blanket loan moratorium ends, banks receive 500,000 applications for further repayment help
30 Sept	FMT Still time to apply for assistance, bank associations tell borrowers
24 Sept	Malay Mail Banks assure Malaysians their creditworthiness won’t be affected if they seek help for loan repayments
23 Sept	Malay Mail Banks tell Malaysian borrowers: Don’t wait till last minute, get our help before Sept 30 to avoid overdue loans
16 Sept	Salaam Gateway COVID-19 pandemic has given Malaysia’s digitalization a big boost
7 Sept	The Malaysian Reserve COVID-19 to spur digital bank initiation
25 Aug	The Malaysian Reserve Banks in Malaysia most committed to help during pandemic
12 Aug	The Edge Markets Special tax treatment on loan moratorium gives banks a soft landing
12 Aug	Free Malaysia Today Banks able to extend loan moratorium, says deputy finance minister
29 July	The Edge Markets BNM: Borrowers eligible for loan repayment flexibility can apply from Aug 7
27 July	The Star Banks could lose capacity to provide RM79b loans due to moratorium
1 June	NST RM1 charge for interbank ATM withdrawals still waived
31 May	NST Normal Operating Hours for Bank ATMs
30 March	The Edge Markets These Banks Won’t Compound Interest, Profit Rates During Six-Month Loan Moratorium
24 March	The Edge Markets Banks to Grant Six-Month Automatic Moratorium on All Loans by Individuals and SMEs, Except for Credit Cards
Others
18 Oct 2021	NST Klang Valley, Melaka enter Phase 4 of NRP on Monday; five other states move into Phase 3
11 Oct 2021	The Edge Markets PM: Interstate and overseas travel allowed for the fully vaccinated from Oct 11
9 Aug 2021	KLOOK List Of Relaxed SOPs For Fully Vaccinated Individuals From 10 August
1 July 2021	Malay Mail Covid-19: Most of Selangor, some localities in KL placed under EMCO starting July 3 with curfew after 8pm
27 June 2021	Free Malaysia Today Lockdown to continue until cases drop below 4,000, says PM
11 June 2021	The Edge Markets MCO 3.0 extended until June 28, says Ismail Sabri
31 May 2021	KLOOK Government Announces FMCO Full Lockdown Nationwide From 1 June Onwards
28 May 2021	The Edge Markets Govt announces 14-day total lockdown of social and economic sectors nationwide from June 1
27 Apr 2021	The Star Ismail Sabri: CMCO in KL and four states extended to May 17
12 Apr 2021	The Edge Markets Putrajaya extends CMCO in five states and KL as it warns of possible fourth infection wave
16 Mar 2021	Malay Mail Ismail Sabri: CMCO to continue in six states; Kedah Perak and Negri Sembilan under RMCO from Friday
2 Mar 2021	The Star KL, Selangor, Johor and Penang under CMCO from March 5
16 Feb 2021	Malay Mail PM launches Covid-19 National Immunisation Programme guidebook, website
7 Oct	The Edge Markets Cover Story: Consumers more vulnerable to scams during pandemic
7 Oct	The Malaysian Reserve Islamic finance to lessen Covid-19 impact
14 May	The Malaysian Reserve SMEs Call for More Support
12 May	iMoney Everything You Need to Know About COVID-19 in Malaysia
3 May	The Edge Markets Malaysian’s Banking System Can Handle COVID-19 Challenges, says BNM Deputy Governor
20 April	Business Today The Impact of COVID-19 on Malaysia’s Looming Digital Banking Revolution
7 April	Malay Mail CM: Penang Micro Businesses, SMEs Can Apply for Zero-Interest Loan from Tomorrow
Affin Bank Berhad
28 July	The Star Change needed on how banks treat moratorium
Alliance Bank Malaysia Berhad
14 May	The Edge Markets Alliance Bank to Reduce Base Rate, BLR and BFR
13 Feb	Alliance Bank Alliance Bank Provides Relief to Customers Affected by COVID-19
AmBank (M) Berhad
10 June 2021	The Malaysian Reserve AmBank to further extend aid to customers
3 April	The Sun Daily AmBank Pledges RM500,000 to COVID-19 Relief Fund, Provides Meals for Frontliners
Association of Banks in Malaysia (ABM)
26 March	FMT News Association of Banks Donated RM10mil to Fight COVID-19
26 March	The Edge Markets 11 Member Banks of ABM Donate RM10m to Fight COVID-19
26 March	ABM Commercial Banks Raise RM10.0 Million for Medical Necessities for Public Hospitals to Combat COVID-19
Association of Islamic Banking and Financial Institutions Malaysia (AIBIM)
19 March	The Edge Markets Financial Assistance Offered by AIBIM Member Banks Due to COVID-19 Outbreak
AXA Affin Life Insurance
21 April	Fintech News Malaysia AXA Affin Life Organizes COVID-19 Crowdfunding Campaign to Help Frontliners
Bank Islam Malaysia Berhad
12 Sept	Focus Malaysia Bank Islam to open 10 branches to assist customers post-moratorium
8 Sept	The Malaysian Reserve Bank Islam to provide RM1b financing to healthcare professionals
14 May	New Straits Times Bank Islam’s iTEKAD Scheme for Micro-Entrepreneurs, Those Affected by Covid-19
5 April	New Straits Times BHB, Bank Islam Contribute RM1.6 Million to Aid Fight Against COVID-19
Bank Kerjasama Rakyat Malaysia (Bank Rakyat)
2 Oct	The Sun Daily Be ready to manage payments post-moratorium – Bank Rakyat
Bank Pembangunan Malaysia Berhad (BPMB)
29 March	Focus Malaysia Bank Pembangunan Will Support its Customers to Weather COVID-19 Storm
Bank Negara Malaysia (BNM)
7 July 2021	BNM Six-month moratorium for all individuals, microenterprises and affected SMEs begins 7 July 2021
3 June 2021	Malay Mail Bank Negara: Loan borrowers who’ve seen income drop eligible for lower monthly installments
30 Sept	BNM Transition to targeted repayment assistance
15 June	The Edge Newsbreak: Bank Negara Offers Relief to Banks
5 May	The Edge Markets BNM cuts OPR by 50bps to 2%
30 April	Malay Mail BNM: Banks Prepping Moratorium Agreement with Borrowers
30 April	The Star Bank Negara Seen Slashing Key Rate By 50 bps on Pandemic Worries
6 April	Fintech News Malaysia BNM Extends Virtual Banking Consultation Period Due to COVID-19 Disruptions
3 April	Malaysiakini Bank Negara to Continue Strengthening Malaysia’s Financial System Integrity
3 April	The Edge Markets BNM Annual Report 2019: Financial Institutions Remain Profitable and Well-Capitalised
23 March	The Edge Markets BNM’s SRR Move Seen to Cushion Impact of Potential Liquidity Tightening
Bursa Malaysia
26 March	Bursa Malaysia (Media Centre) Bursa Malaysia Announces Additional Relief Measures to Alleviate the Impact of COVID-19 on Capital Market Players
CIMB Bank Berhad
4 June 2021	Bernama CIMB continues to extend financial assistance to affected customers
14 May	CIMB News Release CIMB Bazar Siberturahim Brings Raya Shopping Experience Online
27 March	Malay Mail CIMB Grants Automatic Moratorium to Individual and SMEs Borrowers
18 March	The Star CIMB Expands Financial Relief Programme to Customers Affected by COVID-19 Outbreak
Citibank Berhad
30 August 2021	The Edge Markets Citi Malaysia offers extended Covid-19 medical benefits for employees and dependents
3 April	New Straits Times Citi Malaysia Announces Special Employee Compensation
30 March	New Straits Times Citi Malaysia Offers Automatic Moratorium, Waives Compounded Interest on Mortgage, Personal Loans
Hong Leong Bank Berhad
4 June	The Edge Markets Hong Leong Assurance extends Covid-19 coverage until Dec 31, 2020
25 March	The Edge Markets Covid-19: Hong Leong Bank Offers Six-Month Moratorium on Loan Repayments, Provides Measures for Cardholders as Well
18 March	HLB Media Hong Leong Bank and Hong Leong Islamic Bank Offer 6 Months Automatic Deferment on Loan and Financing Repayments for all SMEs and Individuals
HSBC Bank Malaysia Berhad
6 June	The Star Bank funds skills training for youths affected by COVID-19
19 March	The Star HSBC Offers Relief Measures for Customers Affected by COVID-19
Labuan IBFC
30 March	Fintech News Malaysia Labuan IBFC’s Financial Services Community Band Together to Combat COVID-19
Malayan Banking Berhad (Maybank)
15 Oct	The Sun Daily Maybank launches Social Impact Deposit account, first of its kind in Malaysia
30 Sept	The Sun Daily Maybank branches open until 7 pm today for repayment assistance applications
17 Sept	The Sun Daily Maybank to hold roadshows to assist customers with post moratorium repayments
3 April	The Edge Markets Maybank to Temporarily Waive Interbank ATM Cash Withdrawal Fee
17 March	The Edge Markets Maybank Offers Financial Relief to Customers Affected By COVID-19 Outbreak
OCBC Bank (Malaysia) Berhad
9 June 2021	The Edge Markets OCBC pledges to continue helping affected borrowers via repayment assistance programme
22 Sept	The Malaysian Reserve OCBC Bank holds 2nd financing support
27 April	OCBC Staff of OCBC Al-Amin Link Arms with Women of Will to Provide Daily Essentials to 650 From B40 Group
26 March	OCBC OCBC not Compounding Interest or Profit During 6-Month Moratorium
25 March	OCBC OCBC Removes ATM Cash Withdrawal Fee for Using Other Banks’ ATMs Until End-April 2020
24 March	Borneo Post Online Individuals, Biz Should Seek Assistance for COVID-19 Aid — OCBC
PRIHATIN
28 April	The Edge Markets Additions to the PRIHATIN Rakyat Economic Stimulus Package
8 April	Money Compass PRIHATIN Package Additional Measures Boost Struggling SMEs
27 March	The Star Muhyiddin Unveils RM250bil Economic Stimulus Package
Public Bank Berhad
6 May	The Edge Markets Public Bank Lowers Base Rate, Base Lending Rate by 50bps
27 March	The Malaysian Reserve Public Bank Will Not be Compounding Interest on Loans During Moratorium
22 March	Daily Express Public Bank Offering Moratorium of up to Six Months
19 March	The Star Public Bank Offers Relief Aid for Loan Repayment Under COVID-19
RHB Bank Berhad
6 May	The Edge Markets RHB Bank lowers Base Rate by 50 Basis Points
29 April	The Star RHB Approves Over RM500mil SRF for SMEs
22 April	The Edge Markets RHB Continues to Provide Packed Meals for Hospital Frontliners in Third Phase of MCO Period
27 March	New Straits Times RHB First Local Bank to Waive Compound of Interest During Moratorium
24 March	The Edge Markets RHB Pledges RM3m to Combat COVID-19
Small Medium Enterprise Development Bank Malaysia Berhad (SME Bank)
14 Jan	New Straits Times SME Bank announces six-month moratorium
7 April	The Malaysian Insight SME Bank Hands Out RM350,000 in Tithes, Corporate Donations to Fight COVID-19
16 March	SME Bank Group SME Bank Offers Special Financing up to RM1.0 Million to SMEs Affected by the COVID-19
Standard Chartered Bank Malaysia Berhad
5 May	Asia IoT StanChart Expands Self-Service Request Through Digital Banking Channels
26 March	The Malaysian Reserve Standard Chartered Malaysia Offers Flexible Repayment Terms on Financing, Loans
United Overseas Bank (Malaysia) Berhad
11 Oct 2021	Bernama UOB Malaysia's COVID-19 relief assistance worth RM23.8 bln benefits 33,000 customers
1 April	UOB UOB Malaysia Pledges RM500,000 to MERCY Malaysia’s COVID-19 Pandemic Fund
28 March	UOB UOB Malaysia Will Not Compound Interest on Loans During the Six-Month Moratorium Period to Help Customers Affected By COVID-19
20 March	UOB UOB Malaysia Announces Immediate Liquidity Relief Assistance for Customers Affected By COVID-19

ADDITIONAL REPORTS AND ARTICLES

The following are recent reports and articles on global reactions to the COVID-19 crisis:

Useful Reports and Articles (2020)

ASEAN
April	ASEAN Policy Brief
Asian Banking and Finance
12May	Global Report: Understanding the New Normal
Deloitte
6June	Penjana – Short Term Economic Recovery Plan
4May	Perspectives: The Financial Impact of COVID-19
–	COVID-19 Potential Implications for the Banking and Capital Markets Sector
April	COVID-19: Impact on Malaysian Financial Institutions and How to Respond
6April	PRIHATIN Package – Additional Measures for SMEs
2April	Regulatory Responses by Countries to Cushion the Economic Impact of the COVID-19 Outbreak
10March	The Heart of Resilient Leadership: Responding to COVID-19
EY
5June	COVID-19 Short-term Economic Recovery Plan
23April	How COVID-19 Will Affect Digital Banking in Malaysia
15April	COVID-19 Industry Pulse Report: Banking
7April	How to Maintain a Culture of Integrity During the COVID-19 Pandemic
21Jan	How to Make the Financial System Resilient in the New Age of Risk and COVID-19
6Nov 2019	How Banks can Elevate Risk Management Over the Next Decade
Financial Services Information Sharing and Analysis Center (FS-ISAC)
8April	Statement on Zoom
-	Zoom Best Security Practices
Institute of Strategic and International Studies (ISIS)
26March	COVID-19 in Malaysia: Economic Impacts & Fiscal Responses
Ipsos
April	Confronting COVID-19: An Ipsos Perspective on the Impact of COVID-19 on the Economy & MedTech Industry in China Part 1 Part 2
March	Signals: Understanding the Coronovirus Crisis
March	Keep Moving in Turbulence – Ipsos Learnings
KPMG
5June	Tax Whiz — Tax Highlights from Your Advisers — National Economic Recovery Plan
April	COVID-19: How to Prevent, Detect and Respond to Cyber Incidents Due to Uncertain Times
April	Post-MCO Reset
26March	Highlights: BNM Measures – Responding to COVID-19
Ministry of Finance
June – Dec	PENJANA — Building the Economy Together
PwC
5June	Short-term Economic Recovery Plan (PENJANA) – Tax Measures
13May	Mitigating the Impact of COVID-19: A Business Continuity Perspective
14April	PwC’s COVID-19 CFO Pulse
April	COVID-19: Opportunities and Challenges for Digital Banks
April	In Managing the COVID-19 Outbreak, Have You Considered These?
World Bank Group
9April	COVID-19: Economic Implications for Malaysia
April	East Asia and the Pacific in the Time of COVID-19 – Regional Economic Update
25March	COVID-19 Outbreak: Capital Markets Implications and Response

AICB's Covid-19 Resource

Take Care, Stay Home

BNM References

Key Announcements/Press Releases

Government References

COVID-19 Assistance Measures by AICB Member Banks

Affin Bank Berhad

Alliance Bank Malaysia Berhad

AmBank (M) Berhad

Bank Simpanan Nasional

CIMB Bank Berhad

Citibank Berhad

Hong Leong Bank Berhad

HSBC Bank Malaysia Berhad

Malayan Banking Berhad (Maybank)

MBSB Bank Berhad

OCBC Bank (Malaysia) Berhad

Public Bank Berhad

RHB Bank Berhad

Standard Chartered Bank Malaysia Berhad

United Overseas Bank (Malaysia) Berhad

Bank Islam Malaysia Berhad

Bank Muamalat Malaysia Berhad

Kuwait Finance House Malaysia Berhad

Bank Kerjasama Rakyat Malaysia Berhad (Bank Rakyat)

Bank Pembangunan Malaysia Berhad (BPMB)

Bank Pertanian Malaysia Berhad (Agrobank)

Export-Import Bank of Malaysia Berhad (EXIM Bank)

Small Medium Enterprise Development Bank Malaysia Berhad (SME Bank)

COVID-19 Assistance Measures (Global)

Fundraising Initiatives by AICB Member Banks

Affin Bank Berhad

Alliance Bank Malaysia Berhad

CIMB Bank Berhad

Malayan Banking Berhad (Maybank)

Useful Reports and Articles (2020)