KUALA LUMPUR, May 24 — Former prime minister Tan Sri Muhyiddin Yassin has urged the government to use a more flexible mechanism to discharge individuals who have been declared...
KUALA LUMPUR, May 24 — Former prime minister Tan Sri Muhyiddin Yassin has urged the government to use a more flexible mechanism to discharge individuals who have been declared bankrupt.
“A bankruptcy status is a form of punishment, it is not a repayment scheme. So when the bankrupt individual has gone through the punishment for a period of time and is in line with good behaviour, the discharge from bankruptcy status should be expedited or eased without looking at the original amount that was filed.
At the same time, the Bersatu Pagoh MP highlighted issues that consumers could face with the Buy Now, Pay Later scheme, citing higher debts occurring in households. The BNPL scheme provides users with the convenience of instalment payments at a zero interest rate over a fixed period.
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