Nepal-China flood victims’ families given repayment deferments

 Bank Negara Malaysia says waivers of selected fees and facilitation of insurance claims are among other assistance being considered.

Bank Negara Malaysia said families of the Nepal flood victims could reach out to their respective financial institution if they need further assistance. (EPA Images pic)

KUALA LUMPUR:

Repayment deferments have since been extended to the families of victims of the recent floods along the Nepal-China border, says Bank Negara Malaysia (BNM).

In a statement today, the central bank said relevant banks and insurance and takaful operators (ITOs) had engaged with the affected families following BNM’s meeting with the victims’ next of kin on Oct 12.

“Depending on the specific circumstances of the affected families, banks and ITOs are also considering further assistance, such as waivers of selected fees and charges, protection of customer assets and deposits, and facilitation of insurance/takaful claims.

“Affected families are encouraged to continue engaging directly with their respective banks and ITOs. Should they require further assistance or clarification, they may reach out to their respective financial institution,” BNM said.

BNM and the financial industry reiterated their readiness to extend appropriate relief and support to the victims’ families, in accordance with applicable laws and regulatory requirements.

The central bank said it would continue to monitor the progress of these efforts.

On Aug 26, flash floods and landslides hit Nepal’s Rasuwa district and the area near its border with Tibet after heavy rain.

The next of kin of the 54 missing Malaysians have submitted a structured financial rescue plan to BNM, while the Nepali government works on legal changes to expedite their death certificates. - FMT