CIMB Bank Berhad and CIMB Islamic Bank Berhad have announced a series of relief measures for customers and employees affected by recent floods. The banks, collectively known as CIMB, have launched an assistance package aimed at providing immediate support, business recovery options, and long-term resilience for individuals and small- and medium-sized enterprises (SMEs).
The CIMB Flood Relief Assistance Plan offers several forms of aid. For business owners, the Disaster Relief Facility introduced by Bank Negara Malaysia in 2022 has been updated to include the Relief & Adaptation Facility (RAFt). This facility allocates RM100 million to help SMEs with flood prevention and adaptation efforts such as risk assessments, relocation to safer areas (excluding land or property purchases), adaptation works, maintenance of flood solutions, and insurance coverage. Eligible SMEs can apply for up to RM1 million under each facility or up to RM2 million collectively, with preferential rates and repayment periods of up to seven years.
Affected customers are eligible for payment relief on loans and financing facilities. The banks offer up to six months of repayment assistance, including moratorium options through a simplified application process. SME customers will also be provided flexible repayment arrangements during their recovery period.
Insurance claim processing is being expedited in partnership with insurers Berjaya Sompo Insurance Berhad and Takaful Ikhlas General Berhad. Dedicated hotlines have been set up for both home and motor insurance claims.
To further ease the burden on those impacted by the floods, CIMB will waive fees related to replacing debit or credit cards, passbooks, bankers’ cheques, statements, as well as late charges. Similar waivers will apply for SME customers.
Employees affected by the floods will receive immediate support from the Staff Welfare Fund in the form of cash advances and other financial assistance.
In addition to these measures for customers and staff, CIMB Foundation is actively supporting flood-affected communities. As part of its disaster response initiative with Kembara Kitchen and in collaboration with GLC Demi Rakyat dan Negara (GDRN), 49,000 ready-to-eat meals have been distributed during the initial phase of humanitarian aid.
For more information about available assistance under this plan, customers can visit www.cimb.com.my/floodrelief.
