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Anwar salutes netizens for putting pressure on MOF

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PKR president Anwar Ibrahim has given a salute to Malaysians for putting pressure on the government over the issue of accrued interest or profit during the loan repayment moratorium period.

Anwar said this in response to the announcement made by Finance Minister Tengku Zafrul Tengku Abdul Aziz on Wednesday.

Following discussions between the Finance Ministry and the banking sector, it was decided that a six-month moratorium for hire-purchase (HP) loans will not result in accrued interest.

This means customers who opt to defer their repayments from April to September will not need to pay larger installments once the deferment period ends.

Tengku Zafrul's announcement yesterday means a change to Bank Negara Malaysia’s May 1st clarification that deferring hire-purchase loans would result in accrued interest and higher installments following the moratorium period.
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