BNM taking prudent approach in addressing high household debt risks

KUALA LUMPUR: The government, via Bank Negara Malaysia (BNM), has taken a prudent and cautious approach to addressing household debt risks to ensure that there will be no negative effects on the stability of the country's financial system.

Deputy Finance Minister Lim Hui Ying said the government is aware of the risks associated with high household debt and among the continuing efforts taken is implementing the policy document on responsible financing practices since 2012.