SHAH ALAM, June 23 — The government is aiming to discharge 200,000 individuals by year end, said Minister in the Prime Minister’s Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said, with about 186,000 people having been released from bankruptcy already.
She said the record was obtained by the Insolvency Department following the government’s efforts to give affected individuals a second chance.
“We hope that by the end of the year, we can give a calculation (people released from bankruptcy) … we hope to target 200,000 this year,” she told reporters after the launch of the Financial Literacy Programme for Public and Private Higher Education Institutions in 2025 by the Insolvency Department at Universiti Teknologi Mara (UiTM) here today.
Also present was UiTM vice-chancellor Prof Datuk Dr Shahrin Sahib @ Shabuddin.
When tabling Budget 2025, Prime Minister Datuk Seri Anwar said the Second Chance Policy was expanded to people aged 40 and below who have debts not exceeding RM200,000 from last year.
Meanwhile, Azalina said 25,578 bankruptcy cases were logged from 2021 to May 2025. Of the total, 10,145 bankruptcy cases involved people aged 35 to 44. She added that there were more bankrupt men (18,590) than women in the same period.
Meanwhile, she said the financial literacy event was a proactive step by the Madani government to teach higher learning students about financial management.
About 1,000 students from public and private universities and colleges were involved in the programme.
— Bernama
