Financial Institutions continue to assist customers in flood affected states

JOINT PRESS RELEASE BY

THE ASSOCIATION OF BANKS IN MALAYSIA (ABM),

ASSOCIATION OF ISLAMIC BANKING INSTITUTIONS MALAYSIA (AIBIM), ASSOCIATION OF DEVELOPMENT FINANCE INSTITUTIONS OF MALAYSIA (ADFIM),

LIFE INSURANCE ASSOCIATION OF MALAYSIA (LIAM),

PERSATUAN INSURANS AM MALAYSIA (PIAM),

MALAYSIAN TAKAFUL ASSOCIATION (MTA)


Kuala Lumpur, 5 January 2018 – The financial industry would like to reiterate the assistance available to customers in the states affected by the recent floods. All member banks, insurance companies and takaful operators will continue to support businesses and individuals to ensure access to banking and insurance/takaful services.

The member banks have taken various measures to ensure that basic banking services will be made available to flood affected customers as well as offering assistance for the resumption of SMEs’ business operations in flood affected areas. These measures include:

  • moratorium on loans and financing repayments that meet the criteria for the same;
  • restructuring and rescheduling of loans/financing that meet the criteria for the same;
  • waiver of fees for replacement of payment cards such as ATM, credit and debit cards which have been lost or damaged in the floods; and
  • application for Small Debt Resolution Schemes (SDRS) for SMEs with financial difficulties (impaired financing).

In addition, bank customers in flood affected areas are advised to proceed to the nearest unaffected bank branches to carry out uninterrupted banking services. Notices will be put up at affected branches as well as the banks’ websites informing customers of the nearest available bank branch to carry out their banking.

The insurance companies and takaful operators have intensified efforts to assist the flood victims by:

  • expediting the claim process with flexibility in the submission of relevant documents which may have been damaged by floods;
  • providing premium payment flexibility (other than for motor insurance which is Cash Before Cover);
  • reducing of interest on Loan Policy and Automatic Premium Loans;
  • waiver of fees for policy; and
  • medical card replacements.


Flood affected customers are advised to contact their respective FIs for consultation with regard to their banking and insurance/takaful issues arising from the floods situation. FIs will give top priority to all requests for assistance from customers who have been affected by the flood.

Members of the public may contact the respective Associations for any enquiries or complaints relating to banking, insurance and takaful matters in the flood stricken areas at the following contact:

ABM at ABMConnect at 1300-88-9980 or via eABMConnect at www.abm.org.my for conventional commercial banking services.

AIBIM at 03-2026 8002/3 or e-mail to This e-mail address is being protected from spambots. You need JavaScript enabled to view it for Islamic banking services.

ADFIM at 03-26949871 or e-mail to This e-mail address is being protected from spambots. You need JavaScript enabled to view it for development finance institutions.

LIAM at 03-26916168 or e-mail to This e-mail address is being protected from spambots. You need JavaScript enabled to view it for life insurance matters

PIAM at 03-22747399 or email to This e-mail address is being protected from spambots. You need JavaScript enabled to view it

MTA: at 03 20318160 or email to This e-mail address is being protected from spambots. You need JavaScript enabled to view it for Takaful matters