PM unveils new loan repayment support programme for low-income group

KUALA LUMPUR : The government today unveiled a new programme called the Financial Management and Endurance Programme (Urus), which will be undertaken soon by the banking sector to help borrowers categorised under the 50 per cent of the low-income group (B50).

Prime Minister Datuk Seri Ismail Sabri Yaakob said Urus was a comprehensive loan repayment support programme that would be offered to the affected B50 clients, including borrowers in the B40 household category who earn a gross household income of less than RM5,880 per month.

“Among the facilities that will be offered are exemption of interest for three months and a lower instalment payment for a period of 24 months, including reduction of interest rate.

“Within this period, customers of loan/financing and personal credit card without any guarantee can benefit from the lower interest rate to ease their financial burden,” he said in a statement.

Prime Minister Datuk Seri Ismail Sabri Yaakob said Urus was a comprehensive loan repayment support programme that would be offered to the affected B50 clients, including borrowers in the B40 household category who earn a gross household income of less than RM5,880 per month. - Bernama pic
Prime Minister Datuk Seri Ismail Sabri Yaakob said Urus was a comprehensive loan repayment support programme that would be offered to the affected B50 clients, including borrowers in the B40 household category who earn a gross household income of less than RM5,880 per month. – Bernama pic

Ismail Sabri said the Urus programme was formulated by the banking sector together with Bank Negara Malaysia and the Credit Counselling and Debt Management Agency. null

“Details on the Urus programme will be fine-tuned by the Finance Ministry. 

“Such an initiative by the banking sector reflects the clear spirit of Keluarga Malaysia and complements the government’s efforts to help B50 borrowers who had before this benefited from the moratorium programme which had been announced under the government’s aid and incentive packages since march 2020.

“The government hopes that with the whole-of-nation approach and the combined efforts of the Malaysian people, we can realise the objective to turn Malaysia into a prosperous, inclusive and sustainable nation,” he added.

By : Azura Abas – NST

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