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
Information PortalKey Announcements/Press Releases
Government References
The Malaysian Government introduced the following special stimulus packages to boost the country’s economic activity and ensure the wellbeing of Malaysians during this global outbreak.
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 BanksAlliance Bank Malaysia Berhad
AmBank (M) Berhad
CIMB Bank Berhad
Citibank Berhad
Hong Leong Bank Berhad
HSBC Bank Malaysia Berhad
Malayan Banking Berhad (Maybank)
OCBC Bank (Malaysia) Berhad
Public Bank Berhad
RHB Bank Berhad
Standard Chartered Bank Malaysia Berhad
United Overseas Bank (Malaysia) Berhad
Islamic BanksBank Islam Malaysia Berhad
Bank Muamalat Malaysia Berhad
Development Financial Institutions (DFIs)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)
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 - 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
Alliance Bank Malaysia Berhad
CIMB Bank Berhad
Malayan Banking Berhad (Maybank)
- 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
- ADDITIONAL REPORTS AND ARTICLES
The following are recent reports and articles on global reactions to the COVID-19 crisis:
Useful Reports and Articles (2020)