KUALA LUMPUR (July 21): The Dewan Rakyat on Monday approved a new legislation to regulate non-bank credit and credit service providers amid growing concerns over the proliferation of buy-now-pay-later (BNPL) schemes.

The bill, named the Consumer Credit Bill 2025, was approved through a majority voice vote. It paves the way for the establishment of a new statutory body — the Consumer Credit Commission (CCC) — which will be responsible for overseeing industry conduct, enforcing standards, and advising the government on consumer credit policy.

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