The Malaysian Democratic Action Party (DAP) launched a website called “aduanmoratorium” to help Malaysians who were denied a 6-month moratorium extension for their loans.
The website will collect the information of borrowers so their financial concerns can be brought up with the Bank Negara Malaysia, the Malaysian government, and the country’s Finance Ministry.
“Many have gone to the banks now and gotten no approval for their extensions. Hence, we hope this portal will help them as there are 7.7 million Malaysians who have loans and over 3,000 small and medium enterprises that are affected by the pandemic and in need of financial aid,” DAP Secretary-General Lim Guan Eng explained.
Organizations like the Malaysian Trades Union Congress have previously called upon the federal government to extend the moratorium for Malaysians in the Bottom to Middle 40th per centile to ease expected financial pressure caused by the economic slowdown.
Likewise, the Federation of Malaysian Manufacturers had a similar plea for extension, stating that this can help businesses avoid possible downsizing and hasten the country’s recovery.