BNM: Loans Above RM100,000 Require a 15 Minutes Financial Education Module
Starting 1 January 2027, Malaysians applying for personal loans over RM100,000 will need to complete a short, 15-minute financial education module — a new requirement imposed by Bank Negara Malaysia (BNM). Here’s what this means for borrowers, why BNM is doing it, and how you can prepare. Why BNM Is Requiring This Module BNM’s goal […]
New BNM Rule: Financial Module for Loans Over RM100,000
Bank Negara Malaysia (BNM) has introduced a new rule: Malaysians applying for personal loans (personal financing) above RM100,000 will now be required to complete a financial education module before their loans can be approved. This policy applies to all licensed banks, Islamic banks, and development financial institutions, and is aimed at improving financial literacy, reducing […]
Is Fintech the Solution to Malaysia’s Household Debt Crisis?
Malaysia’s Debt Crisis: A Nation Under Pressure Malaysia is facing a serious household debt crisis. As of mid-2024, the nation’s household debt stood at RM1.57 trillion, accounting for 84.2% of the GDP — one of the highest ratios in Asia (The Edge, Malay Mail). From credit cards and personal loans to BNPL (Buy Now Pay […]
From Budgeting to Credit Scores: Why Fintech Is the Future of Financial Wellness
Financial Wellness in Malaysia: A Growing Concern In Malaysia today, financial stress is at an all-time high. With rising living costs, growing household debt (RM1.57 trillion as of 2024), and limited access to personal finance education, many Malaysians are struggling to stay afloat — let alone plan for their future. From missed credit card payments […]