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.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!