Cambodian Civid19 patients receive interest exemption from banking and financial institutions
The February 20 event was an event to cross the Covid 19 into the community, which spread so much that some of our Cambodian brothers and sisters lost their income, lost their jobs, and businessmen were forced to temporarily suspend their business, so they had a hard time. In monthly bank payments.
In view of this, the Association of Banks in Cambodia and the Association of Microfinance in Cambodia have issued a joint statement on additional interventions of banking and financial institutions to support customers during the spread of Covid 19.
In order to support and facilitate customers in this difficult time, the two associations have set out the following additional principles:
1. Covid19 Infected People
For those who are infected by Covid19, will be received the exemption of loan interest and all penalties for at least one month, as well as automatic credit refinancing (if the client agrees), including a three-year deferral of principal payments. All customers infected with Covid 19 must show a positive test result issued by the competent authority.
2. For Custodian customers
Automatic loan repayment arrangement (if customer agrees), including one month deferral of principal and interest payment and all penalties.
3. Continue to provide credit restructuring quickly and conveniently for clients affected by Covid 19.
4. Issue emergency or supplementary loans by easing conditions and reducing interest rates to help continue and rehabilitate the family economy and business before and after the crisis.
5. Reorganize credit and waive all penalties for customers who buy a first home owner.
6. Provides benefits for clients who have died due to Kovid 19 according to the actual capabilities of each institution.
Please read the more detailed joint statement from the Banking Association of Cambodia and the Microfinance Association of Cambodia below: