KUALA LUMPUR: The Financial Management and Resilience Programme (Urus) has been launched to help borrowers in the bottom 50% (B50) group.

       To be implemented by the banking sector, the programme encompasses interest waivers and reductions in instalment payments and interest rates.

       In launching it, Prime Minister Datuk Seri Ismail Sabri Yaakob described Urus as a comprehensive loan repayment assistance support programme for B50 customers.

       “This includes borrowers who are in the B40 household category, such as those with gross household incomes of less than RM5,880 per month.

       “The facilities offered include an interest waiver for three months, a reduction in instalment payments for a period of up to 24 months, as well as a reduction in interest rates,” he said in a statement yesterday.

       During this period, customers with unsecured loans, financing and personal credit cards could also benefit from the reduced interest rate to help ease their financial burden, he added.

       “The banking sector has designed the Urus programme together with Bank Negara Malaysia and the Credit Counselling and Management Agency.

       “The Finance Ministry will give out further details,” he added.

       Ismail Sabri said the initiative by the banking sector reflected the spirit of the Malaysian Family and complemented the government’s efforts to assist B50 borrowers who have already benefited from the loan repayment moratorium announced under the government’s aid and stimulus packages in March last year.

       “The government hopes that with a whole-of-nation approach and the unified efforts of all Malaysians, we will be able to realise the goal of making Malaysia a nation that is prosperous, inclusive and sustainable,” he said.