ALOR STAR, Feb 13, 2016:
Majlis Amanah Rakyat (Mara) has called on the government to carry out reviews on several Bank Negara Malaysia’s (BNM) policies to enable its students to take up study loans from banks.
Its chairman, Tan Sri Annuar Musa, said this was because, right now, banks could not offer study loans to Mara students as the students were subject to certain regulations.
He said students who took up study loans under the Mara Bank Scheme were compelled to repay their loans within a period of 10 years as in the case of personal loan packages.
“This is quite burdensome for the students. We hope several BNM policies will be changed to enable students to repay their loans with an amount of less than RM1,000 a month and under three or four phases, with the repayment period to be extended.”
He said this to reporters after meeting Umno Division information chiefs at Kedah Umno Liaison Committee Office here today.
Annuar said Mara had prepared a proposal on the matter and had submitted it to the Rural and Regional Development Ministry to be tabled to the Cabinet soon.
He added that Mara would also request BNM to provide RM1 billion to Mara to give study loans to its students.