Bank Negara Malaysia set to implement consumer credit law


Malaysian regulators are working towards implementing the Consumer Credit Act next year, a law that would regulate all consumer lending activities, including the growing “buy now, pay later” (BNPL) sector.

Bank Negara Malaysia, the Ministry of Finance and the Securities Commission will be collaborating on the law, BNM governor Nor Shamsiah Mohd Yunus told local reporters on November 12, according to Malaysian newspaper The Star.

BNPL has become latest fintech bonanza, allowing users to make

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: