MARA defers student, business loans amid Covid-19 pandemic

Rural Development Minister Datuk Dr Abd Latiff Ahmad said in a statement today that MARA student borrowers will be given a three-month deferment provided they do not have any arrears for three months. ― Reuters pic
Rural Development Minister Datuk Dr Abd Latiff Ahmad said in a statement today that MARA student borrowers will be given a three-month deferment provided they do not have any arrears for three months. ― Reuters pic

KUALA LUMPUR, March 19 ― Majlis Amanah Rakyat (MARA) will allow students and entrepreneurs affected by the Covid-19 pandemic to defer their loan payments.

Rural Development Minister Datuk Dr Abd Latiff Ahmad said in a statement today that MARA student borrowers will be given a three-month deferment provided they do not have any arrears for three months.

He added that this also covered borrowers of its Advanced Educational Loan facility.

Entrepreneurs who have taken MARA loans will be given a six-month deferment provided they do not have any arrears for more than two months, he said.

“A special 30 per cent discount on the lease of MARA business premises will also be given to all entrepreneurs.

“These incentives are subject to stipulated conditions as well as proof that they have been directly affected by the virus outbreak,” he said. ― Bernama

Related Articles