This consultation paper is prepared by the Consumer Credit Oversight Board Task Force (Task Force) with support from the Ministry of Finance, Bank Negara Malaysia and the Securities Commission Malaysia. The Taskforce was established as an administrative arrangement to see through the finalisation of the Consumer Credit Bill in collaboration with the relevant ministries and agencies. Upon the enactment of the Consumer Credit Act, the Task Force will be formalised and incorporated as the Consumer Credit Oversight Board (CCOB).

The Task Force invites written comments and feedback on the proposals presented in this consultation paper, including suggestions on areas to be further clarified or elaborated as well as any alternative proposals that the Task Force should consider. To facilitate the Task Force’s review, we request for sufficient elaboration on the rationale or basis in support of your views, accompanying evidence or illustrations, as may be appropriate.

Feedback and comments are to be submitted to the Task Force by 5 September 2022 via email to CCAConsultation@bnm.gov.my.