Islamic Bank and Thai Credit Launch Flood Relief Program

Islamic Bank of Thailand and Thai Credit Launch Flood Relief Program

Islamic Bank of Thailand (iBank) has introduced the "iBank We Stand Together" relief initiative to ease hardship for customers affected by natural disasters and flooding in officially declared disaster zones. The three-pronged program includes suspension of existing debt payments, new credit lines for home repairs and business rehabilitation, and accelerated insurance claim processing. Applications are open from today through December 31, 2026.

Thaveelap Rutthapherom, Chairman and Managing Director of Islamic Bank of Thailand, stated: "As a specialized state financial institution operating under Islamic principles, iBank expresses its concern and solidarity with all affected customers and citizens. The bank stands ready to support customers through the 'Suspend Debt, Build Capital, Move Forward' initiative, beginning with debt relief during the most difficult period, followed by capital injection for home repair and business recovery, enabling everyone to return to normal life quickly."

Measure 1 – Debt Suspension: Existing debt payment deferral for retail customers with outstanding principal not exceeding 2 million baht and SME customers with outstanding principal not exceeding 20 million baht.

• For severe damage preventing residence or business operation: Full suspension of principal and profit for up to 3 months • For partial damage with continued residence or operation: Principal suspension only (profit payable) for up to 6 months • Loan repayment periods can be extended up to the suspension period, with late charge penalties waived during the deferral period

Measure 2 – Capital Injection: New credit for home repair and business recovery.

• Home repair credit (retail): Up to 1 million baht, repayable over 20 years maximum, with profit rates of 1.99% per annum in year one, SPRL-3.50% in years 2-3, and SPRL-1.50% from year 4 onwards • Business recovery credit (SMEs): Up to 5 million baht, repayable over 5 years maximum, with rates of 3.25% in year one, SPRL-1.00% in years 2-3, and SPRL rate thereafter (currently 7.68% per annum)

Measure 3 – Fast Track Insurance Claims: For existing customers with fire insurance covering natural disasters, the bank will expedite claim processing to ensure customers receive compensation and can repair property as quickly as possible.

Interested customers can contact Islamic Bank of Thailand at any nearby branch from today through December 31, 2026, or reach iBank Contact Center at 1302, via Messenger at Islamic Bank of Thailand – iBank or Line at iBank 4 all.

Thai Credit Public Company Limited has also prioritized customer care and support during the crisis, announcing emergency relief measures for customers affected by flooding in Bangkok, surrounding areas, and disaster zones nationwide. The program aims to restore liquidity and help businesses resume operations smoothly.

Eligible customer groups include all SME, MSME, Retail, Consumer, and Nano & Micro Finance borrowers. Bangkok area applications began today.