New Consumer Credit Bill to Rein in Unethical Lenders and Protect Malaysians from Financial Risks

The Consumer Credit Bill 2025, passed by Dewan Rakyat, aims to protect Malaysians from financial risks linked to uncontrolled credit use and unethical lending. The bill will regulate all credit-related businesses, ensuring fair practices, transparency in charges, and professional debt collection standards. It establishes a Consumer Credit Commission to oversee previously unregulated sectors like leasing, factoring, debt collection, and non-bank digital financing. The commission will consolidate regulatory functions under one roof for efficient supervision. Implementation will be phased, starting with unregulated providers, with full centralisation by 2031, reflecting the government’s commitment to a safer, more inclusive credit ecosystem.

Consumer Credit

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