Bank Negara Malaysia needs encouraging banks to help the tourism industry stay afloat

Tuesday, August 17, 2021

Bank Negara Malaysia needs to encourage banks to help the tourism industry stay afloat and not just focus on profit margins, said tourism industry players.

Malaysian Inbound Tourism Association (Mita) president Uzaidi Udanis said that all tourism players are going through hard times to stay afloat in the wake of the Covid-19 pandemic.

Udanis said, “We are at war and banks should be together with the rakyat to overcome the crisis. There is no point if the banks’ profits look good while the entrepreneurs are in crisis.”

He said that banks should assist the tourism industry, which is the third most important economic sector in Malaysia.

Udanis said, “Bank Negara should conduct in-depth studies to identify industries that are badly affected and come up with a good solution to help them overcome their difficulties instead of taking sides with banks. It has now been almost 20 months since the tourism industry players have lost their income due to the Covid-19 pandemic.”

“Mita hopes Bank Negara will protect the tourism industry’s interest in making sure the banks help the tourism players to stay afloat during this time of crisis and recover before talking about imposing interest on the moratorium given and others,” he added.

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