KUALA LUMPUR, July 18 — A new condition set by Bank Negara Malaysia (BNM) limiting the tenure of personal loan and home financing on civil servants will affect the financial performance of Angkatan Koperasi Kebangsaan Malaysia Berhad (Angkasa).
Angkasa president Datuk Abdul Fattah Abdullah said most cooperatives under Angkasa offered a maximum tenure for 10 years for personal loans, with some cooperatives offering up to 25 years.
“We will carry out a study on the effects of the new conditions imposed by BNM on the 588 credit cooperatives, as well as on Bank Rakyat and Bank Persatuan Malaysia Bhd, which offer loans to their members,” he told Bernama here today.
Earlier, he presented 1,000 boxes of dates to Malaysian National News Agency (Bernama) deputy Editor-in-Chief (General News Service) Datuk Zakaria Wahab for distribution to the staff at Wisma Bernama. - Bernama
