PETALING JAYA: Co-op Bank Pertama Bhd (CBP) has approved 47,413 moratorium applications, valued at more than RM3.2bil, under the National People’s Well-Being and Economic Recovery Package or Pemulih as of mid-July.

       Chairman Kamari Zaman Juhari said almost 99% of the total moratorium applications received were approved, involving Islamic personal financing, Islamic mortgage financing and Ar-Rahnu financing.

       “The moratorium offered by CBP is for six months and is not classified as rescheduling or restructuring while the financing record remains unchanged.

       “For customers who pay through Angkasa (Angkatan Koperasi Kebangsaan Malaysia Bhd) Service Bureau or Salary Deduction Programme, their repayments will be reactivated after the moratorium period ends. For others, they will be contacted by CBP,” it said in a statement yesterday.

       On rejected applications, Kamari Zaman said these only involved 240 customers who did not fulfil conditions set by CBP, such as their financing applications being approved after June 30, 2021. ― Bernama