KUALA LUMPUR (April 7): Malayan Banking Bhd (KL:MAYBANK) on Tuesday reaffirmed its support for customers affected by the escalating war in Iran, saying it has multiple channels — both digital and physical — open to engage with them and provide the necessary assistance.

Assistance is available for both individuals and businesses, with measures including adjustments to repayment terms and loan tenure extensions to help customers manage their financial commitments, Maybank said in a statement on Tuesday.

"The bank understands that individuals and businesses may experience financial pressures differently over time and is focused on working closely with customers to understand their circumstances and provide appropriate support," the bank said.

The statement comes after businesses called for government support and relief measures as energy prices and raw material costs soar due to global supply chain disruptions caused by the closure of the Strait of Hormuz.

Earlier on the same day, the Federation of Malaysian Manufacturing (FMM) renewed its call for urgent government action after its survey revealed that the ongoing conflict in the Middle East could soon halt Malaysian production and exports. Nine out of 10 companies it polled are already affected or expect to be within weeks.

Maybank said customers seeking assistance can do so through multiple channels, including through the “Financial Relief” option on its Maybank2u platform, via relationship managers at branches and service centres nationwide, or through its customer care hotline.

"As part of the broader banking industry, Maybank continues to support efforts towards maintaining financial resilience and stability, and will work closely with customers and stakeholders to ensure that support remains available where it is needed," it added.