Revisiting Islamic finance in the midst of COVID-19 pandemic: the case of Malaysia
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The ongoing COVID-19 pandemic has shattered the 2020 global economic growth. Amidst lingering uncertainties of the effects of COVID-19, governments around the world have set out measures to assist its economies through economic stimulus packages and interest rate cut. At the international front, the World Bank and the International Monetary Fund (IMF) on 25 March 2020 issued a joint statement calling on all bilateral creditors to suspend debt payments from International Development Association (IDA) countries that request forbearance (IMF 2020). A similar call was made by central banks around the world. On 24 March 2020, Bank Negara Malaysia (BNM) ordered banking institutions to grant an automatic moratorium on all loan/financing repayments/payments, principal and interest (except for credit card balances) to all individuals and SME borrowers/customers for a period of six months from 1 April 2020 (BNM 2020).
Islamic finance , COVID-19 , Malaysia
Kasri, N. S. (2020). Revisiting Islamic finance in the midst of COVID-19 pandemic: the case of Malaysia. I-FIKR Digest, (Special Issue 3), pp. 25-29.
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