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Noh Omar: Government spoke with Bank Rakyat, Maybank on loan repayment restructuring process for entrepreneurs

By on April 2, 2022 0

“The ministry will continue to concern itself with the problems faced by entrepreneurs because they are the ones who will help revitalize the country’s economy,” according to Noh Omar. (Photo by Mohamad Shahril Basri/The Edge)

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SEPANG (April 2): ​​The Ministry of Entrepreneurs and Cooperatives Development has held discussions with Bank Rakyat and Maybank on the process of restructuring loan repayments for entrepreneurs affected by Covid-19.

His Minister Tan Sri Noh Omar said he also presented the proposal at the recent Cabinet meeting.

“Many entrepreneurs came to see me and informed me that they could not repay their loans even though the banks had put a moratorium on them. Therefore, I discussed with these two financial institutions to restructure loan repayments.

“That way we can help businesses recover, especially as the country’s borders have reopened,” he said. Bernama at Kuala Lumpur International Airport (KLIA) recently.

Noh Omar said that since foreign travelers can now enter the country for tourism purposes, the ministry will focus on helping entrepreneurs in the tourism industry, including tour operators and homeowners. ‘Home.

“As they have not been in operation for two years, they need time to repay. They also need to repair their vehicles and their host family in order to start their business,” he said.

In this regard, Noh Omar is convinced that the restructuring or rescheduling of loan repayments could help the entrepreneurs concerned to resume their activities and repay their loans on schedule soon.

Meanwhile, he said the ministry has allocated RM50 million to help micro-entrepreneurs affected by floods last year, RM100 million for small and medium entrepreneurs in the industry as well as 200 million RM through the informal financing and micro-financing program.

“The ministry will continue to concern itself with the problems faced by entrepreneurs because they are the ones who will help revitalize the country’s economy,” he added.