Banks and insurers ready to offer relief to families affected by Nepal-China floods, says BNM

KUALA LUMPUR, Oct 3 — Financial service providers stand ready to extend appropriate relief and support to the families of the victims affected by the recent floods along the Nepal-China border, in line with applicable laws and regulatory requirements, said Bank Negara Malaysia (BNM).

The central bank said that assistance or goodwill measures may include repayment deferments, waivers of fees and charges, and flexibility in documentation requirements pending the completion of the relevant legal processes.

“Financial institutions may also prioritise the processing and validation of policy or certificate status, expedite the payment of insurance and takaful claims, as well as provide other forms of support tailored to the specific needs of the affected families,” it told Bernama in a statement.

BNM advised next of kin of the affected Malaysians to reach out to the relevant financial institutions for appropriate assistance. The central bank said it will work closely with financial institutions to ensure the timely provision of support to those impacted by the tragedy. — Bernama