Tag: financial education
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BNM Mandates 15-Min Financial Education for Personal Loans Over RM100K
New Rule Sets Financial Literacy Benchmark for High-Value Personal Loans Starting January 1, 2027, borrowers in Malaysia seeking personal financing above RM100,000 must complete a 15-minute financial education module, a policy announced by Bank Negara Malaysia (BNM). The move aims to bolster financial literacy among consumers taking on larger debt and to ensure borrowers understand…
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BNM To Require 15-Minute Financial Education for Personal Loans Over RM100,000 from 2027
Overview of the new policy Bank Negara Malaysia (BNM) announced a revised policy that will require borrowers applying for personal financing exceeding RM100,000 to complete a 15-minute financial education module. The measure, set to take effect from January 1, 2027, aims to bolster financial literacy and ensure borrowers make well-informed decisions before taking on large…
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BNM Introduces 15-Minute Financial Education for Personal Loans Over RM100K
BNM mandates financial education for high-value personal loans Bank Negara Malaysia (BNM) has announced a revised policy requiring applicants for personal financing exceeding RM100,000 to complete a 15-minute financial education module. The policy, set to take effect on January 1, 2027, aims to improve financial literacy and ensure borrowers understand the commitments and risks associated…