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Applications for URUS now open to eligible B50 customers
Posted on Nov 15, 2021
KUALA LUMPUR: Applications for the Financial Management and Resilience Programme (URUS) are now open to eligible bottom 50% income group (B50) individual customers until Jan 31, 2022.
URUS is available for B50 customers who are under an existing repayment assistance programme provided by the banks as of Sept 30, 2021 and meet the criteria for the programme.
The criteria include those with a gross monthly household income of RM5,880 or lower and are experiencing loss of employment or income reduction of at least 50%, as well as those whose loan/financing facility is performing — that is, not in arrears exceeding 90 days as at the date of the application for URUS.
The Association of Banks in Malaysia (ABM), Association of Islamic Banking and Financial Institutions Malaysia (AIBIM), Association of Development Finance Institutions of Malaysia (ADFIM), and Credit Counselling and Debt Management Agency (AKPK) said this in a joint statement on Monday (Nov 15).
Through URUS, AKPK will provide customers with a personalised and holistic financial plan, taking into account the customers' financial circumstances and ability to afford the repayment of all financing obligations, according to the statement.
Eligible B50 customers may apply for URUS directly with their banks, and those who wish for further assistance can contact their banks via Internet banking or telephone banking channels, or walk into any of the bank branches.
Customers who have loan/financing facilities from multiple banks only need to apply with any one of the banks where they currently have performing facilities under an existing repayment assistance programme.
URUS application forms and details of the process are available on the banks’ websites and at their branches, and more details of URUS are also available on the websites of the banking associations’ and AKPK.
The associations said the banks remain committed to assisting their customers during this challenging period caused by the Covid-19 pandemic and are mindful that customers would need some time to get back on their feet financially as the economy gradually recovers.
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