BNM's LINK can help you if the bank has been bullying you

KUALA LUMPUR (March 13): Whether it’s due to an unexpected expense, or any other occurence that may crop up in life that causes financial difficulties, the bank still comes calling for their money, but your pockets are empty, Bank Negara Malaysia provides a resource that can help you.

“I see all these news reports about how difficult it is with the banks when it comes to paying their loans,” Datin Arlina Ariff, director of BNMLINK said.

Malay Mail reports that BNMLINK is an important link between BNM and the people, and can come in handy for those whose homes may soon be auctioned off, or who may be blacklisted for future loans.

These are common financial problems that face most adult Malaysians today, but many do not know how to solve these issues, she said..

“Maybe they have no information. You can always restructure your loan and we always tell them no matter what, talk to the bank.”

BNMLINK was set up in 2005 after the Central Bank as a public-friendly department to provide face-to-face customer service for walk-in visitors on general inquiries and complaints. BNM’s TeleLINK was then established, providing call-in and email services.

“People sometimes don’t like how banks treat them,” Arlina was reported as saying. “So we genuinely listen to their problems and try and come up with resolutions.”

BNMLINK, along with BNM have provided resolutions for close to half the complaints, including imposing penalties against some banks, revealed Arlina.

BNMLINK can receive up to 2,500 inquiries and complaints per day, mostly inquiries or complaints from customers with a central credit reference information system (CCRIS) record.

The CCRIS database records credit information, and all late loan or debt payments. 

But sometimes those who call BNMLINK for help only do so when it is too late. 

“A day before the bank is about to foreclose their homes or take legal action, that’s when they call,” she said.

For more information about BNMLINK, visit its website: www.bnm.gov.my/bnmlink/