Malay-Muslim NGOs urge automatic loan moratorium for B40, M40

A coalition of Malay-Muslim NGOs is the latest to urge the federal government to direct financial institutions including lending and credit firms to offer a loan moratorium for B40 and M40 borrowers.

In a joint statement today involving 28 NGOs, the coalition, led by the Malay Chambers of Commerce Malaysia (MCCM), said an automatic loan moratorium would be a lifeline for groups that are affected by the current Covid-19 pandemic.