A Big U-Turn on Moratorium for Hire-Purchase Loans? (30 April 2020)

Following the announcement by Bank Negara Malaysia (BNM) on the 6 months moratorium on loan repayments in March 2020, it took a sudden change of procedures on hire-purchase loans (car loans) today.

To recap, please click the below link to read our earlier blog post:

BNM Loan/Financing Deferment Measure. How it works actually? (March 2020)

With the topic "Operationalisation of Moratorium for Hire-Purchase Loans and Fixed Rate Islamic Financing", BNM today issued an announcement to the general public.

What is that?

What should I do?

A Historic Post on Negative Crude Oil Price (20 April 2020)

Since this was such a historic event, how can we leave this out from our blog? On 20 April 2020, the US May oil futures contract went into negative territory for the first time in history and hit a record low on thin volume, ahead of next week’s expiration.

Why did this happen?
How about Malaysia?

How to get the RM300 Covid-19 Test Fund?

The Life Insurance Association of Malaysia (LIAM), Persatuan Insurans Am Malaysia (PIAM) and the Malaysian Takaful Association (MTA) have established the COVID-19 Test Fund (CTF) to support the Ministry of Health’s (MoH) efforts to conduct more COVID-19 testing for the benefit of medical insurance policyholders and takaful certificate holders. RM8 million has been pledged by the insurance and takaful industry to this fund.

Medical insurance policyholders and takaful certificate holders may apply for reimbursement up to a maximum of RM300 for COVID-19 testing (one reimbursement per individual) to maximize the number of tests that can be supported by the CTF.

Who is eligible to claim from the CTF?

How and Should I Apply EPF i-Lestari Withdrawal?

In order to ease the financial burden of Malaysians during the current Covid-19 outbreak, the prime minister had announced on 27 March 2020 that Employees Provident Fund (EPF) members will be allowed to withdraw up to RM500/month from their EPF account.

Available from today 1st April 2020 onwards, this withdrawal facility is known as i-Lestari. A monthly withdrawal that aims to relieve the financial burden of our members.

Who is eligible?

How to apply?

Should I withdraw?