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BWBB 3053 UUM COVID 19 Pandemic and Banking Problem Paper

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Marketing
School
University Utara Malaysia
Type
Essay
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A192 BWBB 3053 MARKETING FINANCIAL STRATEGIC
GROUP ASSIGNMENT
GROUP CLASS: A
INDIVIDUAL ASSIGNMENT
COVID-19 PANDEMIC AND BANKING PROBLEM
TO PROMOTE THEIR PRODUCTS
PREPARED FOR: DR. MUHAMMAD MUHAIZAM BIN MUSA
PREPARED BY:
NUR FIZZATTUL AQKMAL BINTI MOHD FAHMI
264167
SUBMISSION DATE ON 4
th
July 2020

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PROBLEM FACED BY BANKING INDUSTRY DURING COVID-19 PANDEMIC
Restucturing and rescheduling of loans
Problems faced by banks during the covid-19 season. These include loan restructuring and
rescheduling. This has resulted in data recovery and loan restructuring to reduce the burden on
borrowers. The government has launched and requested financial institutions to provide
financial assistance to borrowers by rescheduling or restructuring loans, as well as offering a
payment moratorium. This is one of the government initiatives in the Movement Control
(MCO) Order. There will also be a 100 percent stamp duty exemption arising from this
rescheduling, restructuring, or moratorium. Exceptions are provided from March 1, 2020,
through December 31, 2020 to Assist small and medium enterprise cash flows. Bank Negara
Malaysia (BNM), the national central bank, will provide loans worth 2 billion ringgit (US $
453 million) to small and medium-sized enterprises (SMEs). The fund will be distributed
through commercial banks at a rate of 3.75 percent per annum (Medina, 2020).
Digital banking in Malaysia
In addition, the problem faced by banks throughout the Covid-19 was digital marketing. Digital
marketing is now in a very high demand and most customers are using online banking. This
causes, incompatibility. In addition, the bank received a slightly higher profile than usual as
BNM proposes to issue up to five licenses to qualified applicants to set up a digital bank that
runs conventional or Islamic banking business. Prior to the crisis, potential applicants included
technology players, gaming companies, telecommunications companies and passenger groups.
This is certainly a bit of a challenge for a long-standing online banking rival on behalf of the

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A192 BWBB 3053 MARKETING FINANCIAL STRATEGIC GROUP ASSIGNMENT GROUP CLASS: A INDIVIDUAL ASSIGNMENT COVID-19 PANDEMIC AND BANKING PROBLEM TO PROMOTE THEIR PRODUCTS PREPARED FOR: DR. MUHAMMAD MUHAIZAM BIN MUSA PREPARED BY: NUR FIZZATTUL AQKMAL BINTI MOHD FAHMI 264167 SUBMISSION DATE ON 4th July 2020 PROBLEM FACED BY BANKING INDUSTRY DURING COVID-19 PANDEMIC Restucturing and rescheduling of loans Problems faced by banks during the covid-19 season. These include loan restructuring and rescheduling. This has resulted in data recovery and loan restructuring to reduce the burden on borrowers. The government has launched and requested financial institutions to provide financial assistance to borrowers by rescheduling or restructuring loans, as well as offering a payment moratorium. This is one of the government initiatives in the Movement Control (MCO) Order. There will also be a 100 percent stamp duty exemption arising from this rescheduling, restructuring, or moratorium. Exceptions are provided from March 1, 2020, through December 31, 2020 to Assist small and medium enterprise cash flows. Bank Negara Malaysia (BNM), the national central bank, will provide loans worth 2 billion ringgit (US $ 453 million) to small and medium-sized enterprises (SMEs). The fund will be distributed through commercial banks at a rate of 3.75 percent per annum (Medina, 2020). Digital banking in Malaysia In addition, the problem faced by banks throughout the Covid-19 was digital marketing. Digital m ...
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