PUTRAJAYA, March 2 — Credit providers and credit service providers are required to meet licensing requirements and register with the Consumer Credit Commission (CCC) effective June 1, 2026, under the Consumer Credit Act 2025 (CCA).
The Finance Ministry (MOF) said in a statement today that under the CCA, credit providers such as Buy Now Pay Later (BNPL) scheme companies, leasing companies, and factoring companies are required to obtain a licence from CCC.
Credit service businesses such as debt collection agencies, impaired loan or financing acquisition companies, as well as debt counselling and management agencies must also register with the commission.
“These licensing and registration requirements will take effect from June 1, 2026, with a six-month transition period granted to industry players to apply for licences or registration under the CCC.
“This measure aims to strengthen consumer protection, enhance the credit industry’s governance level, and ensure more transparent, fair, responsible, and professional credit practices,” the statement said.
The CCA, gazetted on December 31, 2025, came into force yesterday. In line with the enforcement of the CCA, which aims to strengthen protection for credit consumers in Malaysia, the government is establishing the CCC.
The MOF said the CCC plays a role in regulating the conduct of the consumer credit industry in Malaysia in a more comprehensive, integrated, and effective manner.
This is achieved through the provision of a comprehensive and consistent regulatory framework; the development of authorisation and conduct standards; as well as the development of an integrated and effective framework and information system for monitoring, supervision, and enforcement.
In the statement, Finance Minister II Amir Hamzah Azizan was quoted as saying that through the enforcement of the CCA and the establishment of CCC, the government is strengthening consumer protection to ensure they are not exposed to unfair or unethical credit practices.
“This effort is an important step by the government to build a transparent and responsible credit system,” Amir Hamzah said.
