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

Kindly note that AICB’s physical office will remain closed from now until 12 May 2020 or (until further notice). However, we will continue to operate business as usual from Monday to Friday, 9 am to 6 pm. To contact us, kindly call our Member Services team at 1300-88-6833 or send us an email at enquiries@aicb.org.my.

The following are some of the Institute’s pertinent announcements on our online initiatives, examinations, qualifications and membership.

Membership
27 March
Qualifications
26 March
20 March
Examinations
30 April
14 April

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
Information Portal
Key Announcements/Press Releases
30 April
30 April
27 March
25 March
25 March
17 March

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.

Government References

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.

COVID-19 Assistance Measures by AICB Member Banks
Commercial Banks
Affin Bank Berhad
Alliance 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 Banks
Bank 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)
Bank Simpanan Nasional (BSN)
Export-Import Bank of Malaysia Berhad (EXIM Bank)
Small Medium Enterprise Development Bank Malaysia Berhad (SME Bank)

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

COVID-19 Assistance Measures (Global)
United Nations Environment Programme (UNEP) Finance Initiative
International Monetary Fund (IMF)

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)

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

General
Banking
The Edge Markets 12 Aug
Free Malaysia Todat 12 Aug
The Edge Markets 12 Aug
The Edge Markets 29 July
The Star 27 July
NST 01 June
NST 31 May
The Edge Markets 30 March
The Edge Markets 24 March
Others
The Edge Markets 22 June
The Malaysian Reserve 14 May
iMoney 12 May
The Edge Markets 3 May
Business Today 20 April
Malay Mail 7 April
Affin Bank Berhad
The Star 28 July
The Edge Markets 19 Feb
Alliance Bank Malaysia Berhad
The Edge Markets 14 May
Alliance Bank 13 Feb
AmBank (M) Berhad
The Edge Markets 5 May
The Sun Daily 3 April
Association of Banks in Malaysia (ABM)
FMT News 26 March
The Edge Markets 26 March
ABM 26 March
Association of Islamic Banking and Financial Institutions Malaysia (AIBIM)
The Edge Markets 19 March
AXA Affin Life Insurance
Fintech News Malaysia 21 April
Bank Islam Malaysia Berhad
New Straits Times 14 May
New Straits Times 5 April
Bank Pembangunan Malaysia Berhad (BPMB)
Focus Malaysia 29 March
Bank Negara Malaysia (BNM)
The Edge 15 June
The Edge Markets 5 May
The Edge Markets 1 May
Malay Mail 30 April
The Star 30 April
Fintech News Malaysia 6 April
Malaysiakini 3 April
The Edge Markets 3 April
The Edge Markets 23 March
Bursa Malaysia
Bursa Malaysia
(Media Centre)
26 March
CIMB Bank Berhad
The Edge Markets 14 May
Malay Mail 27 March
The Star 18 March
Citibank Berhad
New Straits Times 3 April
New Straits Times 30 March
Hong Leong Bank Berhad
The Edge Markets 4 June
The Edge Markets 25 March
HLB Media 18 March
HSBC Bank Malaysia Berhad
The Star 6 June
The Edge Markets 19 March
Labuan IBFC
Fintech News Malaysia 30 March
Malayan Banking Berhad (Maybank)
The Edge Markets 3 April
The Edge Markets 17 March
OCBC Bank (Malaysia) Berhad
OCBC 27 April
OCBC 26 March
OCBC 25 March
Borneo Post Online 24 March
PRIHATIN
The Edge Markets 28 April
The Edge Markets 8 April
The Star 27 March
Public Bank Berhad
The Edge Markets 6 May
The Malaysian Reserve 27 March
Daily Express 22 March
The Star 19 March
RHB Bank Berhad
The Edge Markets 6 May
The Star 29 April
The Edge Markets 22 April
New Straits Times 27 March
The Edge Markets 24 March
Small Medium Enterprise Development Bank Malaysia Berhad (SME Bank)
The Malaysian Insight 7 April
SME Bank Group 16 March
Standard Chartered Bank Malaysia Berhad
The Edge Markets 5 May
The Edge Markets 26 March
United Overseas Bank (Malaysia) Berhad
UOB 17 July
UOB 1 April
UOB 28 March
UOB 20 March

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

Useful Reports and Articles (2020)
ASEAN
April
Asian Banking and Finance
12 May
Deloitte
6 June
4 May
April
6 April
2 April
10 March
EY
5 June
23 April
15 April
7 April
21 Jan
6 Nov 2019
Financial Services Information Sharing and Analysis Center (FS-ISAC)
8 April
Institute of Strategic and International Studies (ISIS)
26 March
Ipsos
  • Confronting COVID-19: An Ipsos Perspective on the Impact of COVID-19 on the Economy & MedTech Industry in China
April
March
March
KPMG
5 June
April
April
26 March
Ministry of Finance
June – Dec
PwC
5 June
13 May
14 April
April
April
World Bank Group
9 April
April
25 March