Tighter regulations coming for credit platforms, says Bank Negara

KUALA LUMPUR: There will be tighter regulations for credit platforms like the Buy-Now-Pay-Later (BNPL) service under the Consumer Credit Act (CCA), says Bank Negara.

The central bank's financial inclusion department director Nor Rafidz Nazri said that the Act will allow the government to ensure that non-bank entities - currently not supervised by any authorities - comply with the regulations and practices of credit provision.