← Back to list

Bill Approved To Regulate Non-Bank Credit

Jul 22, 2025

The number of 'buy now, pay later' transactions has increased by over 22% over the past year.

The number of active buy now, pay later accounts also went up by 1.4 million.

The Finance Ministry says this is a concern, because it exposes consumers to potential debt risk, especially among those with poor financial literacy.

As such, the Dewan Rakyat has approved a new legislation to regulate non-bank credit and credit service providers.

This paves the way for the ministry to establish a new statutory body — the Consumer Credit Commission — which will be responsible for overseeing industry conduct, enforcing standards, and advising the government on consumer credit policy.

-

Several areas across three states are reporting unhealthy air quality readings.

At last look, Seremban and Nilai in Negeri Sembilan were the worst affected.

Johan Setia and Banting in Selangor... as well as Kuantan, Pahang were the other areas with unhealthy API readings.

Meanwhile, around 60 other areas nationwide currently have moderate air quality levels.

-

In a related development, Sumatra in Indonesia has seen a sharp spike in forest and land fires.

Authorities say the number of hotspots hot-spots there has jumped from under a hundred, to over a thousand within just 10 days.

-

Police are investigating a new viral video that uses the likeness of His Majesty Sultan Ibrahim, the King of Malaysia.

Cops explained that the AI-generated clip, apparently showing the King giving out monetary aid is fake and intended to scam victims.

-

American actor Malcolm-Jamal Warner has died aged 54 in a drowning incident while on vacation in Costa Rica.

He’s best known for playing the son Theo Huxtable in the hit 80’s sitcom The Cosby Show.