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Bank Muamalat Malaysia Berhad is a well-known Islamic bank that was formed in early October, 1 October 1999 when the assets and liabilities of three local banks, namely Bank Bumiputra Malaysia, Bank of Commerce (Malaysia), and BBMB Kewangan, were combined to form the Shariah Compliant Banking division. It is governed by the Islamic Financial Services Act, 2013. (IFSA). Bank Muamalat is one of two fully independent Shariah-compliant financial institutions founded by the Malaysian government to facilitate the development of the country's Islamic financial sector. Bank Muamalat provides a wide range of services to its customers to satisfy the needs of both individuals and organizations.

Required: Discuss how Bank Muamalat Malaysia response to the Covid-19 Pandemic by offering the below programs to Malaysian citizens.

• Moratorium for 6 months for monthly installment financing - to ease the cash flow (movement control order)

• Moratorium to those who are affected with natural disaster like flood - recovery