MOF wants to simplify loan application processes

KUALA LUMPUR, Sept 5 (Bernama) -- The Ministry of Finance is studying ways to simplify loan application processes to new entrepreneurs, said Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah.

He said the ministry had received feedback from applicants on difficulty getting loans as banks asked for financial record and collateral.

"We will study loans by SME Bank, Agro Bank, Tekun Nasional, Amanah Iktiar Malaysia and commercial banks to simplify processes," he said after launching "Empowering Remove Classes: Eliminating Future Poor" workshop in Universiti Malaya Sunday.

Husni said the government might announce relaxation for borrowers in Budget 2011 in Oct.

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