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
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) |
| 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 | ||
| Malay Mail | 12 Oct | |
| CNN | 8 Oct | |
| The Edge Markets | 30 Sept | |
| FMT | 30 Sept | |
| Malay Mail | 24 Sept | |
| Malay Mail | 23 Sept | |
| The Edge Markets | 20 Sept | |
| Salaam Gateway | 16 Sept | |
| The Edge Markets | 8 Sept | |
| The Malaysian Reserve | 7 Sept | |
| The Malaysian Reserve | 25 Aug | |
| The Edge Markets | 12 Aug | |
| Free Malaysia Today | 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 | 7 Oct | |
| The Malaysian Reserve | 7 Oct | |
| The Edge Markets | 30 Sept | |
| PMO Malaysia | 28 Aug | |
| 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 | |
| Alliance Bank Malaysia Berhad | ||
| The Edge Markets | 14 May | |
| Alliance Bank | 13 Feb | |
| AmBank (M) Berhad | ||
| 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 | ||
| Focus Malaysia | 12 Sept | |
| The Malaysian Reserve | 8 Sept | |
| New Straits Times | 14 May | |
| New Straits Times | 5 April | |
| Bank Kerjasama Rakyat Malaysia (Bank Rakyat) | ||
| The Sun Daily | 2 Oct | |
| Bank Pembangunan Malaysia Berhad (BPMB) | ||
| Focus Malaysia | 29 March | |
| Bank Negara Malaysia (BNM) | ||
| BNM | 30 Sept | |
| The Edge | 15 June | |
| The Edge Markets | 5 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 | 16 Sept | |
| CIMB News Release | 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 Star | 19 March | |
| Labuan IBFC | ||
| Fintech News Malaysia | 30 March | |
| Malayan Banking Berhad (Maybank) | ||
| The Sun Daily | 15 Oct | |
| The Sun Daily | 30 Sept | |
| The Sun Daily | 17 Sept | |
| The Edge Markets | 3 April | |
| The Edge Markets | 17 March | |
| OCBC Bank (Malaysia) Berhad | ||
| The Malaysian Reserve | 22 Sept | |
| OCBC | 27 April | |
| OCBC | 26 March | |
| OCBC | 25 March | |
| Borneo Post Online | 24 March | |
| PRIHATIN | ||
| The Edge Markets | 28 April | |
| Money Compass | 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 | ||
| Asia IoT | 5 May | |
| The Malaysian Reserve | 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 | |
|
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 | |