Kuala Lumpur, 22 January 2021: As schools target to welcome back students on various online platforms this week, the Financial Institution Collective Outreach (FINCO) continues to work with strategic community partners such as MERCY Malaysia to help children affected by floods to join their virtual classmates as soon as possible.

Following an urgent call to action by the volunteer relief organisation earlier this month, FINCO member banks, insurance companies and takaful operators collectively pledged more than RM500,000 to facilitate MERCY Malaysia’s flood response and recovery efforts. As an increasing number of evacuees head home, funds will be directed towards protecting health amidst rising COVID-19 cases, such as delivering safely managed water, sanitation and hygiene services, nutritious food and back-to-school supplies. 

“We know it can be an extremely challenging time for our communities impacted by the devastation of floods. This collective pledge aligns with the financial industry’s ongoing efforts in disaster prevention preparedness, response and recovery. The aim as a coordinated industry is to effectively reduce disruptions faced by our communities, in particular children, during disasters and increase their capacity to cope,” said Clare Walker, CEO of FINCO. “Our heartfelt appreciation goes to the emergency services and volunteers on-ground who work to protect people, as well as educators who step up to minimise disruption to learning.”

“School plays an essential role in children’s educational achievement, health and well-being. Without their needs being met, they may feel demotivated to continue learning,” emphasised the President of MERCY Malaysia, Dato’ Dr Ahmad Faizal Mohd Perdaus. “Hence, as a part of our effort to provide sufficient resources to the vulnerable communities, we extend our aid to equip students with the right supplies to prepare them for school this year.”

“We are grateful to the financial industry’s generosity in helping us minimise the burden of those affected by the flood, especially the school-going-children. The best interest of the children is at the centre of this effort. The tremendous support from FINCO enables us to reduce the limitations and help these children to continue pursuing their dreams,” he added.

In addition to other direct contributions in support of humanitarian and medical-related initiatives by various community partners, flood aid relief by financial institutions includes deferment of loan repayments, expedited claims and other forms of non-financial assistance. 

FINCO is a collaboration between the entire financial industry with the guidance of Bank Negara Malaysia. Established in 2017, the non-profit collective impact initiative aims to provide underprivileged children and youth with the guidance and educational tools they need to achieve their life goals.