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Memahami Isu Moratorium Bank: Implikasi Dan Cadangan

APABILA Bank Negara Malaysia (BNM) mengumumkan 25 Mac lalu untuk bank-bank tempatan memberikan moratorium (penangguhan pembayaran balik pinjaman atau ansuran bulanan) selama 6 bulan bermula 1 Mei 2020, rakyat khususnya pelanggan bank rata-rata menarik nafas lega kerana bertanggapan Bank Negara memahami tekanan hidup rakyat lantaran PKP yang membataskan mereka daripada bekerja dan memperoleh pendapatan bagi menampung kehidupan termasuk bebanan hutang bank.

Namun, kenyataan BNM kelmarin mencetuskan kekeliruan apabila moratorium tersebut rupa-rupanya bukan bersifat automatik secara mutlak kerana pelanggan perlu memaklumkan kepada bank jika tidak mahu moratorium, malah bagi yang memilih untuk menangguhkan pembayaran berkemungkinan akan berhadapan dengan bayaran balik yang lebih tinggi selepas tempoh moratorium berakhir pada Oktober, lantaran nilai faedah atau keuntungan terakru (nilai keuntungan bank terkumpul yang sepatutnya diperolehi dalam tempoh tertentu) selama 6 bulan yang dikenakan kepada pelanggan.

Mengapa ini berlaku?

1. BANK HANYALAH PERANTARA KEWANGAN

Secara mudahnya, bank hanyalah perantara kewangan (financial intermediary) antara wang pendeposit dengan pelanggan pelbagai produk pembiayaan. Maknanya, bank menguruskan wang orang lain bukannya milik bank. Keuntungan yang bank perolehi adalah daripada faedah yang dikenakan ke atas pelbagai produk pinjaman/pembiayaan yang akhirnya disalurkan kembali kepada pendeposit dalam bentuk dividen (faedah atas deposit).

Justeru, sebarang penangguhan pembayaran pinjaman akan memberi kesan kepada bank yang perlu membayar balik nilai pokok beserta keuntungan kepada para pendeposit yang menyimpan di bank tersebut.

2. APAKAH PENDEPOSIT BERSEDIA UNTUK TIDAK MENDAPAT PULANGAN?

Apabila bank menawarkan moratorium, ini bermakna bank secara asasnya bersedia untuk tidak menerima sebarang keuntungan bagi penangguhan bayaran balik yang ditawarkan kepada peminjam atau pelanggan produk pembiayaan bagi tempoh tertentu. Ini turut memberi kesan langsung kepada pendeposit kerana wang pendepositlah yang digunakan untuk bank memberi pinjaman kewangan tersebut.

Persoalannya apakah pendeposit bersedia sekiranya bagi tempoh tertentu mereka tidak akan menikmati kadar faedah atas simpanan mereka sebagaimana yang dijanjikan?

3. APAKAH CARA BAYARAN BALIK SELEPAS TEMPOH MORATORIUM?

Rata-rata institusi perbankan perlu mengambil kira kesan kepada pendeposit dan operasi bank dalam tempoh 6 bulan moratorium yang ditawarkan. Bagi mengelakkan sebarang bentuk kerugian termasuk kerugian akibat daripada implikasi perundangan dan piawaian perakaunan, bank terpaksa mengambil kira keuntungan atau faedah terakru, termasuk kos daripada kerugian selama 6 bulan penangguhan bayaran balik diberikan.

Inilah yang memerlukan setiap bank mencari formula terbaik bagi kedua-dua belah pihak, bank dan peminjam untuk menstrukturkan semula pembayaran.

4. APA PILIHAN RAKYAT?

Dalam kenyataan terbaru BNM kelmarin, secara mudahnya ada 3 pilihan bagi rakyat.
(i) Pertama, meneruskan bayaran balik seperti biasa (tidak memilih untuk mengambil moratorium atau menangguhkan bayaran balik pinjaman).

(ii) Kedua, memilih moratorium tanpa memberi kesan kepada tempoh pinjaman iaitu mula membayar balik ansuran pinjaman mulai Oktober sehingga tamat tempoh matang pinjaman. Namun, jumlah bayaran balik akan lebih tinggi kerana bank mengambil kira keuntungan atau faedah terakru selama tempoh 6 bulan moratorium diberikan. Maknanya bank akan caj lebih kepada pelanggan.

(iii) Ketiga, memilih moratorium dengan melanjutkan tempoh pinjaman iaitu membayar balik ansuran pinjaman mulai Oktober dan ditambah tempoh bayaran balik selepas tamat tarikh matang pinjaman. Pelanggan juga akan dikenakan jumlah bayaran lebih tinggi sebagaimana pilihan kedua, cuma nilai ansuran mungkin lebih rendah kerana tempoh bayaran balik yang dipanjangkan.

5. APA KESAN SHARIAH KEPADA KONTRAK PERBANKAN ISLAM?

Prinsip Shariah adalah jelas, sekiranya ada apa-apa perubahan kepada terma dan syarat yang dipersetujui pada awalnya antara bank dengan pelanggan, maka persetujuan baharu antara kedua-dua pihak perlu dilakukan.

Sebagai contoh, perubahan kepada cara dan kadar bayaran perlu dimaklumkan dan mendapat persetujuan yang jelas daripada pelanggan.

Memandangkan perbankan Islam menggunakan pelbagai kontrak syariah seperti berasaskan jualbeli (murabahah) ataupun sewaan (ijarah) ataupun gabungan pelbagai kontrak (ijarah thuma al-bai, tawarruq, musharakah mutanaqisah), maka implikasi kontrak dan pengurusan prosedur mendapatkan persetujuan perlu diperhalusi dengan mengambil kira sifat, prinsip dan kesan kontrak-kontrak tersebut.

Sebagai contoh, bagi kontrak murabahah yang bersifat tetap dan jelas dari segi harga pokok dan kadar keuntungan. Sebarang perubahan kepada kadar keuntungan atau kaedah bayaran balik bagi yang memilih moratorium, memerlukan persetujuan dan kontrak (aqad) baharu.

Berasaskan butiran di atas, pandangan saya adalah seperti berikut:

1. Kerajaan punya niat yang baik untuk mengurangkan beban rakyat dengan mencadangan bank-bank tempatan menawarkan moratorium kepada para peminjam tatkala kegawatan pandemik COVID-19 dan PKP melanda.

Tindakan afirmatif kerajaan ini wajar dihargai mengambil kira maslahah rakyat yang lebih besar. Namun mekanisme dan pendekatan perlu dirancang dengan lebih kemas, sistematik dan berkesan. Komunikasi juga mesti kemas, jelas dan pantas.

2. BNM sebagai antara pelaksana kepada dasar Kerajaan ini seharusnya mengambil kira semua faktor sejak daripada awal termasuk kesan jangka pendek dan panjang kepada industri perbankan dan kestabilan sistem kewangan negara secara keseluruhannya.

Ini kerana kesan moratorium yang dilaksanakan berbeza antara satu bank dengan bank yang lain bergantung kepada portfolio perniagaan bank-bank terbabit yang berasaskan kepada kontrak-kontrak syariah yang pelbagai.

3. Penerangan BNM perlu lebih jelas dan konsisten daripada awal bagi mengelakkan kekeliruan kepada rakyat. Jika wujud kesilapan, BNM perlu berani tampil akui kekhilafan dan ambil peluang untuk memperbaikinya dengan menggunakan pelbagai saluran komunikasi secara sistematik dan efisyen.

4. BNM juga perlu memberikan panduan dan penerangan yang jelas mengenai sifat dan keunikan produk-produk kewangan Islam agar tidak disalah-tanggapi sebagai suatu yang membebankan. Malah lebih parah apabila terbentuknya persepsi bahawa perbankan Islam hanyalah bertopengkan Agama dan istilah syariah bagi menghalalkan faedah yang membebankan.

5. Inilah masanya perbankan Islam mesti ditampilkan berbeza daripada amalan konvensional dengan menzahirkan nilai-nilai ihsan dan rasa kebertanggungjawaban sosial yang tinggi terutamanya ketika umat dilanda musibah.

Datuk Dr Asyraf Wajdi Dusuki
Ketua Pergerakan Pemuda UMNO Malaysia

Understanding bank moratorium: Implication and suggestion

WHEN Bank Negara Malaysia (BNM) announced on Mac 25 that local banks will provide a 6-month moratorium (deferment of loan servicing or monthly installment) beginning May 1st 2020, it was a relief for the rakyat since they had the impression that BNM were with them during the hard times of Movement Control Order (MCO).

However, the central banks’ statement yesterday led to confusion as the moratorium is not automatically given to customers or borrowers since they have to alert the bank should they refuse it. For those who chose to defer payment will be subjected to higher repayments when the moratorium ends in October when the accrued interest for six months is calculated and imposed on them.

Why is this happening?

  1. BANKS ARE JUST FINANCIAL INTERMEDIARIES

In simple words, banks are only financial intermediary between depositors and customers in providing financing products. It means, banks manage other peoples’ money. Profit derived from interest on various products which is loans/financing which go back to depositors as dividend (interest on deposit).

Hence, any loan deferment will have negative bearing on the banks since they have to service depositors with their net tangible asset (NTA).

2. DO DEPOSITORS READY FOR NON-PROFITABLE RETURNS?

When banks offer a moratorium, it means they are ready not to make any profit from postponement of loan servicing from customers in a stipulated period. It also give direct impacts to depositors since it was their money used to give out loans and other products.

The question is, are the depositors ready for such a situation?

3. WHAT WILL BE THE MODE OF REPAYMENT AFTER MORATORIUM?

Generally, banks will have to weigh its impacts on the depositors and its operation during the 6-month moratorium. To avoid any losses, legal implication and accounting standard, banks are forced to impose the accrued interest, including the 6-month losses.

This is where banks need to find the best formula for both, namely the banks and borrowers.

4. THE PEOPLES’ OPTIONS

In its latest statement, BNM is giving us three options.

(i) First, continue with current loan repayment (not opting for moratorium or loan deferment).

(ii) Second,  opting for moratorium which only requires them to resume repayment in October. However, it will be much higher since banks will accumulate accrued 6-month interest on the amount of loans given. This means that banks will overcharge customers.

(iii) Third, accepting the moratorium with extended repayment period starting October. Customers will have to pay more as in (ii) but the installment could be lower after period of repayment is extended.

5. SHARIAH BEARING ON ISLAMIC BANKING

The Shariah principle is clear. Should there be changes to the initial terms and conditions with customers, a new agreement is the answer. For instance, adjustment to methods and quantum of payments must be made clear and endorsed by the customers.

Since Islamic banking subscribe to various shariah contracts which are hire-purchase modul (murabahah) or lease (ijarah) or the combination of various methods (ijarah thuma al-bai, tawarruq, musharakah mutanaqisah) then the product implication and its managing procedure must get full endorsement and fine-tuned to the elements above.

For instance, a permanent murabahah product must have a clear notion on its principle pricing and profit. Any changes will require a new contract (akad).

On that note, I am of the opinion that:

  1. The government has a noble intention to address our predicament when it requested local banks to give a moratorium to borrowers during this Covid-19 pandemic and MCO. The affirmative measures must be appreciated. However, its mechanism and methods need further fine-tuning and made practical. The communication methods must also be fast and clear.
  2.  BNM as the executing body must take into account all factors, including the short and long-term impacts to the banking industry and the stability of the country’s financial system. This is so since the impact of variable sets of moratorium imposed by banks on business portfolio based on their shariah contracts.
  3. BNM methods in informing the public must be consistent to avoid confusion. In case of error, BNM must have the gut in admitting its mistake and take liberty to resolve it.
  4. BNM must also provide clear guidelines and information on the Islamic products as to avoid deception. Worse still is when Islamic banking is perceived as a religious tool to permit the burdensome interest rates.
  5. This is the right time for Islamic banking to prevail over the conventional practice by promoting good values and readiness in facing any difficult times

Datuk Dr Asyraf Wajdi Dusuki
Ketua Pergerakan Pemuda UMNO Malaysia