URUS is the brainchild of a partnership between Malaysia’s lenders and Credit Counseling and Management Agency (AKPK or Agensi Kaunseling dan Pengurusan Kredit).
A joint statement released by the partners in this initiative indicated that “the scheme will see banks setting aside an estimated RM1 billion (US$240.5 million) to fund the cost of the reduction in interest/profit costs, including interest/profit waiver for these vulnerable B50 customers.”
The scheme will be of direct benefit to individual customers who are under an existing repayment assistance programs. Some of these programs include Targeted Repayment Assistance, PEMERKASA Plus, PEMULIH.
The criteria outlined for those who wish to benefit from this scheme are as follows:
The various repayment reliefs offered by the AKPK include interest waivers for a period of three monthsbeginning the month after onboarding, reduced installments for a period of up to 24 months in total.
Pan Finance is a print journal and news website providing worldwide intelligence on finance, economics and global commerce. Known for our in-depth analysis and opinion pieces from esteemed academics and celebrated professionals; our readership consists of senior decision makers from across the globe.