The Microfinance Supervisory Committee has asked the microfinance institutions (MIs) not to collect the loan repayments from borrowers in November and December, and that two-month repayment amount will be suspended until April 2021, state media reported.

However, the borrowers from COVID-19 stricken Yangon and Bago regions and Rakhine State are entitled to this relaxation only, according to the decision of the Central Committee on Prevention, Control and Treatment of COVID-19 meeting held on 23 October 2020.

The committee stated that the lenders are asked not to collect the interest rate during the suspension time and the repayment to be made between May and October 2021 in instalment.