Azmin: Local banks should help first-time homebuyers

Selangor Menteri Besar Mohd Azmin Ali has urged local banks to help resolve end-financing problems faced by potential homebuyers.

He said that during the 1997 Asian Financial Crisis, the federal government and the people had stepped in by setting up Pengurusan Danaharta Nasional Berhad to acquire the banks’ non-performing loans.

Now, as people suffer from the rising cost of living and shrinking disposable incomes, he said it is now time for banks to step up to the plate as corporate citizens.

“I understand that they would have to abide by Bank Negara’s regulations, but I’m certain that the local banks would be able to put some pressure on the central bank and discuss about the demand and the need for Bank Negara to review the current guidelines, so at least the first-time homebuyers can buy houses with the loans,” he told a press conference in Rawang today.

He was speaking to reporters after launching the Setia EcoTempler housing project today, which includes 900 units of affordable housing under the state’s Rumah SelangorKu programme.

[More to follow]

-Mkini