AKPK to help SMEs manage debt issues

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KUALA LUMPUR: The Credit Counselling and Debt Management Agency (Agensi Kaunseling dan Pengurusan Kredit) will start offering specialised solutions to help SMEs (including micro SMEs) to manage their debt and promote sound financial management practices.

In a joint statement on Friday, Bank Negara Malaysia and AKPK said from Sept 1, the latter will provide the services following the transfer of the Small Debt Resolution Scheme (SDRS) function from Bank Negara to AKPK.

“ With this transfer, AKPK will serve as the one stop platform for both individuals and SMEs seeking debt restructuring services, as well as financial education and advisory, ” they said

The statement also said AKPK can now provide more efficient and holistic debt restructuring and advisory services for SMEs that have loans with multiple banks.This was based on AKPK's vast experience and expertise in assisting financially distressed individuals manage their finances through its structured debt management programme.

AKPK also plays a key role in strengthening the financial capability of Malaysians through its tailored financial education and counselling programmes.