Dubbed the financial resilience and management programme (URUS), Ismail said this will be offered to affected B50 borrowers who earn a gross household income below RM5,880 a month.

Aside from the three-month interest exemption, other facilities being offered include a reduction of instalment payments for up to two years with a lower interest rate.

Meanwhile, those with loans, financings and personal credit cards without guarantees are eligible for reduced interest rates which will help lighten their financial burden.

Ismail added that the URUS programme will be implemented soon.

“This URUS programme was formulated by the banking sector along with Bank Negara Malaysia and the Credit Counselling and Debt Management Agency (AKPK). Further details on URUS will be given by the finance ministry.

“This initiative by the banking sector clearly reflects the Malaysian Family spirit and complements the government’s efforts to help B50 borrowers who have previously benefited from the loan moratorium announced since March 2020.

“The government hopes that with this whole-of-nation approach and united effort, we can realise our goal of making Malaysia a prosperous, inclusive and sustainable nation,” he said in a statement today.

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