Perikatan Nasional’s ‘banks first, rakyat second’ policy in times of crisis
A SELF-PROCLAIMED ‘Malay-Muslim government’ charging unreasonable moratorium interest payment for Islamic financing? Oh, the irony.
Reinstating interest charges to hire-purchase loans and fixed-rate Islamic financing is simply put, not in the interests of the rakyat as a whole. However, this ‘U-turn’ by the government certainly came to a shock to Mak Cik Kiah, Haji Salleh and millions of other ordinary Malaysians coming into the 44th day of the movement control order .The question arises then: why did the government decree a six-month moratorium as part of the Prihatin economic stimulus package in the first place?
This incompetence is made the more bewildering given that our finance minister is a technocrat with decades-long experience in the banking industry itself. Why didn’t Tengku Zafrul Tengku Aziz voice his concerns during the cabinet meeting in which the stimulus package was crafted?
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