Changes in the interest of borrowers
In this interview, Kevin Foo, Head of Financial Services at KPMG in Malaysia, shared his insights on the abolishment of the Rule of 78 under the Hire Purchase (Amendment) Bill 2025. He noted that shifting to the effective interest rate and reducing balance method promotes fairer, more transparent lending practices, enhances borrower confidence, and aligns with Bank Negara Malaysia’s focus on ethical lending and consumer protection, marking another step toward a more resilient financial system.
Read the full story in the attachment below.
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