Bank Negara tightens the rules on buy-now-pay-later, and the timing is not an accident
The Consumer Credit Act brings BNPL providers under a single regulator for the first time. What changes for the four million Malaysians already using it.
For three years buy-now-pay-later sat in a gap between the Financial Services Act and the Hire Purchase Act, regulated by neither. That gap is closing, and the providers who grew fastest inside it have the most to rework. [demo]