Najib slams banks for misleading claims over loan moratorium



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PETALING JAYA: Najib Razak tonight hit out at banks for claiming they had extended the loan moratorium when they had not.

Several banks, he claimed, had instead offered discounts on monthly instalments or waived such instalments for three months by extending the loan repayment period between two and five years.

“And so they claim that the promise made in the 2021 budget has been fulfilled. Strange, but it happens,” he said in a Facebook post.



The former prime minister accused these institutions of trying to make a profit during such harsh times.

It was reported last month that Putrajaya had instructed banks to automatically approve applications to freeze loan repayments from those in the B40 group and micro enterprises with debts of below RM150,000.

Finance Minister Tengku Zafrul Aziz had announced this in his winding-up speech on Budget 2021 in the Dewan Rakyat.



Najib wondered if the banks had taken a leaf out of Pakatan Harapan’s book when the former government promised to abolish tolls in the run up to the 14th general election only to extend the concession but offer an 18% discount.


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