In a statement, he said Bank Simpanan Nasional (BSN) would provide interest-free personal loans of up to RM5,000. For this purpose, BSN had allocated RM100 million to help flood victims buy replacements for household equipment and furniture destroyed in the floods.

He said there would be a moratorium on loan repayment for the first six months and this initiative was open to flood victims throughout the country.

Ismail also said Tekun Nasional had set aside a RM30 million fund for a flood recovery financing scheme for affected MSMEs.

Loans of up to RM10,000 without interest and a 12-month moratorium would be given to those eligible.

According to Ismail, Bank Negara Malaysia was also working on increasing the allocation for the Disaster Relief Facility 2022 from RM200 million to RM500 million based on current needs.

He said another initiative was a repayment assistance scheme for flood victims with housing or property loans, car loans, credit cards, and personal loans.

“The facility includes deferment or reduction of instalment payments for up to six months,” he said.

These initiatives were in addition to other types of government aid announced earlier, including the RM1,000 payment for each household affected by floods.

“I truly sympathise with the hardship and difficulty faced by Keluarga Malaysia after being hit by the recent flood disaster,” he said.