Banks ready to help families of Malaysians missing in Nepal flash floods

Banks are prepared to assist families of Malaysians accounted for in Nepal’s flash floods last month.

Bank Negara Malaysia said assistance or goodwill measures may include repayment deferments, waivers of fees and charges, and flexibility in documentation requirements pending the completion of the 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 said in a statement to Bernama.

The central bank said it would work closely with the financial institutions to ensure the timely provision of support to those impacted by the tragedy, and advised the next of kin to contact the institutions.

Fifty-four Malaysians are still reported to be missing in the incident after a man, who could not be contacted earlier, showed up at the Malaysian embassy in Kathmandu on Oct 1.

The Malaysian was travelling alone in Nepal and was at Nagthali on Aug 25, a day before the floods struck.

On Sept 27, the families appealed for a moratorium on their loans and other financial commitments while they sort out issues involving their loved ones.

The families said they were not seeking for the debts to be written off.

“It is to prevent our families from facing additional financial distress, late-payment consequences, collection action, or other complications while the legal status of our loved ones remains unresolved,” they said in a joint statement.