The Group hopes to ease the additional financial burden experienced by those affected by the recent floods across several states in Malaysia.
Kuala Lumpur: CIMB Group Holdings Berhad (“CIMB” or the “Group”) announced that it will be providing financial obligation payment relief to assist individual and business customers in communities that have been affected by the recent floods across Malaysia.
At the same time, the Group has, through its corporate social responsibility (“CSR”) arm CIMB Foundation, committed RM2 million towards providing on-ground community assistance for flood victims as well as recovery support post-floods.
Under the CIMB Flood Relief Assistance Plan, CIMB Bank Berhad (“CIMB Bank”) and CIMB Islamic Bank Berhad (“CIMB Islamic”) will provide a six-month payment relief on loan and financing products for individual and SME/business customers who have been impacted by the flood to help alleviate their financial burden.
For individual and SME customers, the process has been simplified as customers only need to provide their basic information to apply. In addition, late charges and fees for impacted customers will be waived. For affected SME customers that need additional cashflow assistance on top of the payment relief, the bank is also offering a Disaster Relief Facility of up to RM500,000 at a preferential financing rate.
Charges would be waived for credit/debit card replacements, statement requests or replacements of damaged passbooks and bankers’ cheques. CIMB will also work closely with its insurance partners to expedite the processing of insurance claims due to the floods in affected areas.
CIMB’s on-ground CSR assistance will be mobilised by CIMB Foundation in collaboration with partner non-governmental organisations (“NGOs”). The Group’s RM2 million flood aid commitment is part of the collective flood relief effort along with other member organisations under the GLC/GLIC Disaster Recovery Network (“GDRN”). Datuk Mohd Nasir Ahmad, Chairman of CIhMB Group, said, “We deeply empathise with all who have been impacted by the recent floods across Malaysia. CIMB plays an important role in serving the communities we operate in, and we are committed to playing our part by providing flood assistance and payment relief. We hope our efforts will help to ease the additional financial burden experienced by flood victims, and subsequently provide much needed funds to help the affected communities to rebuild their lives and livelihoods. The increasing frequency of extreme weather events such as these also highlight the urgency of the sustainability agenda, particularly in addressing climate change.”