Web28 feb. 2024 · Licensed money lenders in Malaysia are under the purview of Ministry of Housing and Local Government, and governed through Money Lenders Act 1951 and Money Lenders Act (Amended) 2003. They are restricted by the amount of they can lend, interest rate and the fees they can charge. WebLevel 4, Lot 6 Jalan 51/217,46050 Petaling Jaya, Selangor,Malaysia Tel: +603-7784 6688 Fax: +603-7785 2624 / +603-7785 2625
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WebThe Malaysian Moneylenders (Amendment) Act 2003 (Act A1193 of 2003) (“MLA 2003”) was gazetted on 29 May 2003 while enforcement took ... no form of business which requires a greater degree of control than that of lending money at interest and no form of business which is capable, if abused, of causing so much misery and social ... WebAt the same time, licensed moneylenders can only charge a maximum of 12% interest per year for secured loans (putting something valuable you have as a “deposit” for the loan), and 18% interest per year for unsecured ones. This is provided in Section 17A of the MA. Get an RM10 discount by calling 03-40479000 rooms in beaufort sc
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