KUALA LUMPUR (March 12): Buy now, pay later (BNPL) use among Malaysian youth raises concern as those aged 30 and below make up about 40% of BNPL transactions in the country, Deputy Finance Minister Liew Chin Tong said. Liew said the government and Bank Negara Malaysia (BNM) have, over the years, introduced measures to prevent households from becoming overly indebted and ensure fair treatment of borrowers, but emerging risks have necessitated the Consumer Credit Act 2025 (CCA). “This is a major milestone for Malaysia’s credit landscape as the act introduces a more coordinated and consistent approach to regulating consumer credit, complementing existing laws and filling important gaps,” he said. The CCA, passed by Parliament in 2025, was gazetted on Dec 31, 2025 and took effect on March 1, 2026. He also reminded that licensing for credit providers and registration for credit service providers will begin on June 1, 2026, with a six-month transition period to support smooth implementation.

Source: The Edge Markets March 12, 2026 11:25 UTC