Bank Negara to enact Consumer Credit Act in 2022


Bank Negara Malaysia governor Datuk Nor Shamsiah Mohd Yunus said the central bank will be collaborating with the Ministry of Finance (MoF) and the Securities Commission (SC) to enact the Act.

KUALA LUMPUR: Bank Negara Malaysia (BNM) is working to enact the Consumer Credit Act in 2022, with the aim of strengthening regulatory arrangements for all consumer credit activities, including providers of "Buy Now Pay Later" schemes.

Bank Negara Malaysia governor Datuk Nor Shamsiah Mohd Yunus said the central bank will be collaborating with the Ministry of Finance (MoF) and the Securities Commission (SC) to enact the Act.

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

BNPL , finance , loan , MoF , Securities Commission

   

Next In Business News

Inflation may re-emerge on review of subsidies, but reforms much-needed - SERC
Ringgit lower against US dollar for third consecutive day
PUB acquires carpet manufacturer for RM2.5mil
Vizione gets RM490mil turnkey contractor job
Bursa Malaysia Derivatives to launch its first currency futures on Dec 11
Public portion of Critical Holdings's IPO oversubscribed by 88.08 times
Govt to launch electric motorcycle use scheme tomorrow - Tengku Zafrul
KL shares close lower in line with regional peers
Bank Negara’s international reserves higher at US$112.3bil
Bitsmedia raises US$20mil in latest round of funding

Others Also Read