[ 31-12-2015 ]
CGC Launches SAS-i For Customers Affected By Natural Disaster
KUALA LUMPUR, Dec 30 (Bernama) -- Credit Guarantee Corporation Malaysia Bhd (CGC) has launched the Special Assistance Scheme (SAS-i), a direct financing facility aimed at providing financial assistance to existing customers' businesses affected by natural disaster.
In a statement Wednesday, CGC said the facility will be made available to those who are in towns or districts that have been defined as disaster areas by the National Security Council, the Prime Minister's Department or deemed as a disaster area by the CGC.
Under the SAS-i, a Syariah-compliant scheme based on the Commodity Murabahah concept, financing ranges from RM20,000 to RM200,000 with a tenure of up to five years, including a moratorium period during the first six months with profit servicing.
The financing rate charged is 5.80 per cent per annum.
"This is where CGC will step in and ensure that our customers are able to overcome challenges and carry on with their businesses with our financing support.
"Given the current monsoon season, we would like our customers to be prepared for any eventualities," CGC President and Chief Executive Officer Mohd Zamree Mohd Ishak said.