KUALA LUMPUR, Aug. 22 -- The Consumer Credit Bill 2025, a landmark piece of legislation aimed at regulating Malaysia's rapidly growing credit services industry, gained passage in the Dewan Rakyat in July and is anticipated to be gazetted before the year's end.
The Bill was tabled after years of calls to regulate services like "buy now, pay later" (BNPL), which have surged in popularity since the Covid-19 pandemic.
BNPL transaction volume, for example, quadrupled from RM2.3 billion in the first half of 2023 to RM9.3 billion in just two years, prompting warnings about potential harm to vulnerable consumers and the risk of rising household debt.
To oversee the new Consumer Credit Act (CCA), policymakers will establish the Consumer Credit ...
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