KUALA LUMPUR, Oct. 1 -- Malaysians seeking personal loans over RM100,000 will be required to attend a mandatory financial education module under a new Bank Negara Malaysia (BNM) policy effective from 2027.

In its Policy Document on Personal Financing, the central bank said borrowers must complete the session - to be conducted by either their lender or the Credit Counselling and Debt Management Agency (AKPK) - which is designed to help them make more informed financial decisions.

Additionally, lenders will be empowered to recommend that high-risk customers complete the module before being approved for any new personal financing product, regardless of the amount.

The new policy also introduces stricter disclosure requirements, obliging l...