Bank Islam Malaysia has rolled out financial assistance for individuals and MSMEs affected by recent floods across the country.

The bank is offering its Relief and Adaptation Facility (RAFt) to MSMEs in districts designated by the National Disaster Management Agency as flood disaster areas.

The facility supports the restoration or replacement of damaged assets, including manufacturing plants, machinery, and equipment, and provides essential working capital.

Existing MSME customers in these areas may also apply for a six month moratorium on Term Financing-i, Revolving Credit-i, Cash Line-i, and Trade Facilities-i.

RAFt is extended to customers in areas assessed to be at risk of similar events in the future.

For individuals, Bank Islam has reinstated its Flood Relief Programme.

Customers with Home Financing-i, Personal Financing-i, or Vehicle Financing-i may request up to six months of instalment deferment, subject to terms and conditions.

The bank is also offering free replacements for damaged or lost Credit and Debit-i cards and cheque books.

Applications may be submitted at any Bank Islam branch within three months of the incident.

More information is available on the bank’s website, and Business Financing-i customers may also email smeassist@bankislam.com.my.

Featured image: Edited by Fintech News Malaysia, based on image by Freepik