Evaluating Responsible Lending Framework Through Suitability and Affordability Assessment in Malaysia

نویسندگان

چکیده

The purpose of this study is to assess the Malaysian consumer credit industry's current responsible lending policy which includes banking, pawnbroking, hire-purchase, moneylending, sale, and cooperatives, as industries are regulated separately. This employs a doctrinal legal research methodology content analysis primary secondary sources law, including Financial Services Act 2013, Moneylenders 1951, Pawnbrokers 1972, Hire Purchase 1967, Consumer Protection (Credit Sale) Regulations 2017, Cooperative Society Commission 1993, Guideline on Responsible Financing Credit Facility for Cooperatives. identifies an inconsistency in approach lending, banking institutions supervised by Central Bank Malaysia required adhere GRF, while others not legally conduct mandatory suitability affordability assessments. To avoid issue inconsistency, proposes some recommendations will assist policymakers deliberating most effective way impose duty obligation all providers engage practices.

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ژورنال

عنوان ژورنال: International journal of academic research in business & social sciences

سال: 2022

ISSN: ['2308-3816', '2222-6990']

DOI: https://doi.org/10.6007/ijarbss/v12-i6/12164