Banks Insurance Companies Come To Aid Of Flood Victims

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Flood victims at an evacuation centre in Kudat, Sabah. (Bernama pic)KUALA LUMPUR: Twelve banks have responded to the call for moratorium assistance and aid relief for those affected by the floods.
Since Monday, Affin Bank, RHB Bank, Public Bank, Malayan Banking, Bank Simpanan Nasional, Bank Muamalat, CIMB Bank, Bank Islam, Alliance Bank, Hong Leong Bank, SME Bank and OCBC Bank have rendered financial assistance to customers affected by the floods, with the number of evacuees reaching 48,000.
The banks are offering a loan moratorium for up to six months, with some providing deferment of loan instalment and waiver of late payment charges.
Affin, CIMB, Hong Leong and OCBC have alsodonated a total of RM1.1 million to government agencies and NGOs.
The massive floods have affected several, including Kelantan, Terengganu, Pahang, Johor, Perak, Sabah and Sarawak.
The proclamation of a state of emergency on Tuesday has also prompted Credit Guarantee Corporation Malaysia, the Credit Counselling and Debt Management Agency, General Insurance Association of Malaysia (PIAM) and Life Insurance Association of Malaysia to offer help.
“PIAM assures flood victims who have purchased a flood cover as part of their general insurance policy that its members are ready to quicken the claims process and pay out claims against losses caused by the current flood situation.
“Member companies are committed to expedite flood claims settlement by reaching out to claimants and are prepared to waive claim forms and supporting documents for shorter turnaround time,” it said in a statement. - FMT

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