Kuala Lampur, April 30 -- The alarming rise in bankruptcy among Malaysian youths is a critical issue, with 877 cases reported in 2024 and over 5,000 since 2020. This trend highlights significant financial challenges the younger population faces and calls for immediate attention to address the underlying causes. Multiple factors contribute to this phenomenon, including personal loans, business loans, housing and vehicle loans, and insufficient financial literacy. This issue effectively involves a collaborative approach involving individuals, communities, and policymakers.

Many youth bankruptcy cases stem from personal loans, representing a significant financial burden. Many young individuals resort to personal loans to bridge income gaps ...