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Proposal to prohibit Rule of 78 in computation of HP interest will not impact banks significantly, says PwC

THE proposal to do away with the Rule of 78 method in calculating hire purchase (HP) interest, in order to modernise HP financing practices to align with current operating conditions and regulatory developments while also being fairer to consumers, is not expected to impact banks with large HP portfolios significantly, says PwC Malaysia. ....

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More measures to protect consumers

FROM PAUL SELVA RAJ Secretary-general Federation of Malaysian Consumers Associations (Fomca) ....

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Enhancing consumer credit protection

In its continuous effort to afford credit protection to individuals as well as micro and small-sized businesses, the Consumer Credit Oversight Board Task Force (CCOB Task Force) has issued its second public consultation paper (CP2), which invites feedback on the proposed regulatory framework for credit businesses and credit service businesses. ....

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BERNAMA - CCOB TASK FORCE RELEASES 2ND CONSULTATION PAPER, PROVIDES MORE DETAILS ON CONSUMER CREDIT ACT

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Top 5 Stories That Shaped Malaysia's Fintech Scene in 2022

A number of exciting announcements in 2022 underlined the growing foundation for solid fintech applications in Malaysia. ....

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