MOF: 13 Pct Of AKPK Borrowers Fully Settle RM3.2 Bln Debt
KUALA LUMPUR, Dec 4 (Bernama) -- A total of 13 per cent of the 477,571 borrowers registered with the Credit Counselling and Debt Management Agency (AKPK) have fully settled debts exceeding RM3.2 billion, said Finance Minister II Datuk Seri Amir Hamzah Azizan.
He explained that these borrowers received assistance through the Credit Management Programme, which helps restructure loans and facilitates continued repayments.
"Furthermore, 51 per cent of participants remain active and continue to benefit from the initiative. Five per cent have successfully resolved their debts independently, concluding their participation in the programme," he said during a question-and-answer session at the Dewan Negara today.
Amir Hamzah was responding to a question from Senator Datuk Noraini Idris about the Ministry of Finance's efforts, through AKPK, to provide solutions for individuals declared bankrupt.
He added that since AKPK’s inception in 2006, nearly 1.4 million individuals have benefitted from the agency’s free Financial Supervision Advisory Service.
To further reduce the bankruptcy rate, he explained, AKPK and financial institutions have implemented measures to issue notices to borrowers before proceeding with bankruptcy actions.
"This initiative allows borrowers to seek assistance from either financial institutions or AKPK, ultimately contributing to a reduction in the bankruptcy rate," he said.
-- BERNAMA