Tag "Bank Negara Malaysia"
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Financial institutions urged to abolish accrued interest/profits during moratorium
KUALA LUMPUR: Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz today urged financial institutions to consider abolishing the accrued interest (on hire purchase loans) or profits (on fixed rate Islamic financing) during the six-month moratorium period. He made the call
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Coronavirus likely to shrink Malaysia’s GDP in 2020
KUALA LUMPUR: The COVID-19 catastrophe will have a significant impact on Malaysia’s economy, with the gross domestic product (GDP) expected to decline to between 2.0 and 0.5% in 2020 versus 4.3% last year. However, Bank Negara Malaysia (BNM) estimated the
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Sabah govt-owned financial institutions urged to offer loan repayment
KOTA KINABALU: UMNO Sabah has called on state government-owned financial institutions to allow all their customers to defer their monthly installment payments. In a statement today, communication director Ghazalie Ansing said, it was only proper for Sabah Credit Corporation, Usaha
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Muhyiddin: Six-month moratorium on bank loans, restructuring of credit card payments
SUNGAI BULOH: The government decided to postpone repayment of bank loan for six months and retransmission credit card balance as well as cooperate loans with the amount of benefits up to RM 100 billion. In a statement today, Prime Minister
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BNM cuts OPR by 25 bp to 2.50%
KUALA LUMPUR: The Monetary Policy Committee (MPC) of Bank Negara Malaysia (BNM) decided to reduce the Overnight Policy Rate (OPR) by 25 basis points to 2.50% at its meeting today. In a statement today, BNM said the ceiling and floor
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Stimulus package will add 1.4 percentage to the country’s GDP this year
KUALA LUMPUR: The RM20 billion economic stimulus package will roughly add about 1.4 percentage points to the country’s Gross Domestic Product (GDP) in 2020, which has already been revised lower to between 3.2-4.2% from the government’s earlier target of 4.8%.
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Ringgit will not face extreme volatility thanks to managed float
KUALA LUMPUR: The ringgit has been under pressure throughout this week amid political uncertainty in the country, which intensified with the collapse of the Pakatan Harapan-led government. On Monday, when the Cabinet was dissolved, the ringgit lost 0.8 per cent
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Govt will announce stimulus package with some delays
The political uncertainty that had wreaked havoc in the country over the weekend has now calmed down after Tun Dr Mahathir Mohamad was appointed interim prime minister yesterday. However, with the ongoing political situation, businesses are concerned if the stimulus
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BNM: 2019 GDP at 4.3%, affected by supply disruption in commodity sector
KUALA LUMPUR: Malaysia’s economy expanded by 3.6% in the fourth quarter of 2019, dragging the full-year Gross Domestic Product (GDP) growth to 4.3%, the lowest since the 2009 financial crisis amid supply disruptions in the commodity sector during the quarter.
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Bank Negara: External influence will affect ringgit
KUALA LUMPUR: Bank Negara Malaysia (BNM) governor Datuk Nor Shamsiah Mohd Yunus today said ringgit, which appreciated 1.1% against the US dollar last year, will continue to be influenced by external developments in 2020. While the Phase One trade deal between the United States and China
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