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Credit cooperatives upset over new regulations on loans


BATU PAHAT: Credit cooperatives in Johor have objected to Bank Negara’s stringent new regulations on personal loans and appealed to the government to review the directive.

Koperasi Jess Johor chairman Sazali Abdul Hamid, who represented 31 credit cooperatives in the state, said the new rule is a silent killer to credit cooperatives as majority of members are no longer qualified for loans under the latest order.

   

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