I RECENTLY read that a bank posted a profit of billions of ringgit for financial year 2024. A few will likely benefit from this huge profit while the majority of Malaysians will continue to struggle – to pay off loans, feed their families and enjoy a decent quality of life.
It seems that the rich are getting richer while the poor continue to suffer, and this has become a norm.
What troubles me is that with such enormous profits, banks – along with other major players – continue to squeeze consumers.
From interest rates to transaction fees, late payment charges, and even fees to withdraw our own money from ATMs, these charges may seem negligible to the wealthy but for middle- and lower-income Malaysians, every cent counts.
Banks may have corporate social responsibility programmes where they organise visits to orphanages or old folks’ homes but these feel like cheap publicity stunts to many of us.
With billions in profit, the least banks can do is abolish some of these charges that burden the people.
Examples include removing exorbitant late payment fees and the RM1 fee for withdrawing money.
Despite repeated pleas from the public, NGOs and consumer groups, banks continue to ignore them. It is time for the government to intervene and address this issue.
We are suffering to earn every ringgit while the banks are proudly posting profits in the billions.
We are measured by how we treat others, how we ease their sufferings and lend a helping hand.
It is time for banks to give something back to the rakyat, starting with abolishing these small but impactful charges.
Stop these injustices and show some mercy.
Nik Imran Nik Hussein
Johor Bahru
