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Tackling responsible lending obligation in Malaysia: a diverse approach


Ilias, Ibtisam @ Ilyana and Hingun, Mohsin and Hassan, Rusni and Kassim, Salina and Abu Bakar, Elistina (2019) Tackling responsible lending obligation in Malaysia: a diverse approach. International Journal of Advanced Science and Technology, 28 (8 spec.). pp. 314-321. ISSN 2005-4238; ESSN: 2207-6360


This paper examines responsible lending obligation among various credit providers under the present legal and institutional framework in Malaysia. The scope of consumer credit industry includes banking, hire-purchase, money lending and pawnbroking. The study finds an inconsistent approach in dealing with responsible lending whereby only banking institutions regulated by the Central Bank of Malaysia are subject to this obligation while non-bank institutions are not. Several recommendations for future improvements are proposed by referring to the practice of several other jurisdictions. The suggestions will help the policymakers to seriously consider imposing this obligation on all credit providers. Eventually, the protection against the irresponsible lending practice is accorded to a wide range of financial consumers in consumer credit industry in Malaysia.

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Additional Metadata

Item Type: Article
Divisions: Faculty of Human Ecology
Publisher: Science and Engineering Research Support Society
Keywords: Consumer protection; Consumer credit; Responsible lending; Regulatory control
Depositing User: Mr. Sazali Mohamad
Date Deposited: 13 Aug 2021 00:01
Last Modified: 13 Aug 2021 00:01
URI: http://psasir.upm.edu.my/id/eprint/82134
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