PUTRAJAYA: Four groups of bankrupt individuals will get an express pathway and mechanism to discharge under the ‘Second Chance Fast Track Policy’ introduced by the government.
Minister in the Prime Minister’s Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said (pic) said the policy was introduced to help the targeted groups rebuild their lives and continue contributing to national development.
The four target groups eligible under the policy are single parents; microloan entrepreneurs; victims of financial fraud (scammers); and housing loan borrowers affected by abandoned housing projects, Bernama reported.
“As a result, single parents can return to work, entrepreneurs can resume their businesses and scam victims can finally breathe a sigh of relief.
“This fast track initiative is not merely a rebranding exercise. It is a Madani commitment to accelerate justice through an empathetic policy that rescues individuals from an endless cycle of debt so that they can rise again with dignity,” she said at the launch of the programme by the Insolvency Department.
“The Madani Government holds that financial failure is not the end of life. It can become a turning point if our system is fair, efficient and, most importantly, humane,” she said.
