Embargo : For immediate release
January 25, 2007
Agensi Kaunselling dan Pengurusan Kredit (AKPK), an agency set up by Bank Negara Malaysia officially launched its Kuala Terengganu branch today. Located at the Bank Negara Malaysia premises, AKPK provide individuals with credit counselling and money management, debt management programme as well as financial education. Through AKPK’s facilitation, debt management plans are devised to assist borrowers work out budgets in meeting their financial needs. The services of AKPK are provided free of charge.
The establishment of AKPK is one of the strategies implemented in the Financial Sector Master Plan which is the development of the consumer protection framework and the enabling infrastructure to protect consumers' interests while at the same time enhancing consumers’ financial capability to participate effectively in the financial system.
The set up of the regional office in Kuala Terengganu represents AKPK’s continuous effort to ensure that its services are available to a wider segment of the Malaysian population. A total of 5 regional AKPK offices commenced operations on 2 October 2006. In addition to Kuala Terengganu, AKPK had established branch offices in Johor Bahru, Penang, Kuching and Kota Kinabalu.
With the launching of Kuala Terengganu’s branch, members of the public in the east coast region can now have access to all the services offered by AKPK at a location, which is nearer and convenient to them.AKPK provides eligible individual borrowers assistance in restructuring debts relating to housing loans, hire purchase, credit card, charge card and other personal loans that have been obtained from institutions* regulated by Bank Negara Malaysia. AKPK does not provide any credit facility to customers. The services are available to all individuals free of charge.
“Over 11,000 customers have sought the services of the agency and more than 1,500 customers have been assisted via our Debt Management Program since we started operation in Kuala Lumpur in April 2006. Over 150 customers had sought our services on counselling and debt management in Kuala Terengganu since we commenced operation in October 2006.” said Datuk L. Meyyappan.
“According to our statistics, about 51% of those who are in our debt management programme have problem with their credit card payment. Many are in debt problems due to living a lifestyle beyond one’s means. The Debt Management Program has helped them consolidate their loans repayment and ease their burdens by making it affordable and help them to get back on track.” added Datuk L. Meyyappan.
Individuals who wish to obtain further information about the services of AKPK and its regional offices can contact or visit our offices nationwide.