Fourteen of 20 banks now offer reducing balance hire-purchase financing, says Armizan

As of September 18, fourteen out of twenty banking institutions in Malaysia have adopted the reducing balance method for hire-purchase financing, with the remaining six expected to implement it by December 31, according to Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali.

This transition is in line with the amendments to the Hire-Purchase (Amendment) Act 2026, which replaces the flat interest rate and "Rule of 78" with the reducing balance method and effective interest rate, aiming for full compliance by April 1, 2027.

The change aims to enhance transparency for consumers in early loan settlements.

During the Consumer Festival (CONFEST) 2026, themed "Suara Kita: Kuasa Kita," the Minister highlighted the goal of ensuring 80% compliance among hire-purchase providers by the end of the year.

BATU KAWAN, Sept 19 — Fourteen of the 20 banking institutions providing hire-purchase financing had begun offering customers the reducing balance method as of Sept 18, said Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali.

He said the remaining six banking institutions are expected to complete the transition to the new method by December 31 at the latest, following engagement sessions with the banks.

“In total, there are 429 entities, comprising banking institutions and hire-purchase providers, registered with the Association of Hire Purchase Companies Malaysia (AHPCM),” he told reporters at the closing ceremony of the Consumer Festival (CONFEST) 2026 at Batu Kawan Stadium here today.

Armizan added that the ministry had set a target for 80 per cent of hire-purchase providers to offer financing in compliance with the Hire-Purchase (Amendment) Act 2026 by the end of this year.

He noted that hire-purchase providers that are not yet fully prepared have been granted a grace period until March 31, 2027, with full compliance required from April 1 next year.

According to Armizan, the amendments to the Act that took effect on June 1 introduced the reducing balance method and effective interest rate, replacing the flat interest rate and “Rule of 78” method.

“Under this method, interest is calculated based on the current loan balance, making early loan settlement more transparent for consumers,” he said.

CONFEST 2026, themed “ Suara Kita: Kuasa Kita ”, is organised by the Ministry of Domestic Trade and Cost of Living (KPDN) from Sept 17 to 20.

The 2026 National Consumer Day celebration aims to raise public awareness of consumer rights, protection and responsibilities.

The programme brings together consumer advocacy groups, government agencies and non-governmental organisations through a range of activities, including consumer-related competitions, a Fun Walk, a Fun Run and booths hosted by KPDN agencies and strategic partners. — Bernama

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据国内贸易和生活成本部长拿督阿米赞·莫哈末·阿里称，截至9月18日，马来西亚20家银行机构中有14家已采用递减余额法进行分期付款融资，其余6家预计将在12月31日之前实施该方法。

这一过渡符合 2026 年《分期付款（修订）法案》的修订，该修订以递减余额法和实际利率取代了固定利率和“78 规则”，目标是在 2027 年 4 月 1 日之前完全合规。

这项改变旨在提高消费者在提前还款方面的透明度。

在以“我们的声音：我们的财富”为主题的 2026 年消费者节 (CONFEST) 上，部长强调了确保到年底分期付款提供商的合规率达到 80% 的目标。

峇都加湾，9月19日讯——国内贸易及生活成本部长拿督阿米赞·莫哈末·阿里表示，截至9月18日，提供分期付款融资的20家银行机构中，已有14家开始向客户提供递减余额法。

他表示，在与银行进行磋商后，其余六家银行机构预计最迟将于 12 月 31 日完成向新方法的过渡。

“马来西亚分期付款公司协会 (AHPCM) 共有 429 家实体注册，其中包括银行机构和分期付款提供商，”他今天在峇都加湾体育场举行的 2026 年消费节 (CONFEST) 闭幕式上告诉记者。

阿米赞补充说，该部已设定目标，到今年年底，80% 的分期付款提供商将按照 2026 年分期付款（修正）法案提供融资。

他指出，尚未完全做好准备的分期付款提供商已获得宽限期至 2027 年 3 月 31 日，但从明年 4 月 1 日起必须完全遵守规定。

据阿米赞称，6 月 1 日生效的法案修正案引入了递减余额法和实际利率，取代了固定利率和“78 规则”法。

他说：“在这种方法下，利息是根据当前的贷款余额计算的，这使得提前还款对消费者来说更加透明。”

CONFEST 2026 以“我们的声音：我们的力量”为主题，由国内贸易和生活成本部 (KPDN) 主办，于 9 月 17 日至 20 日举行。

2026年全国消费者日庆祝活动旨在提高公众对消费者权利、保护和责任的认识。

该计划通过一系列活动，包括消费者权益竞赛、趣味步行、趣味跑步以及由印尼国家消费发展局（KPDN）下属机构和战略合作伙伴设立的展位，将消费者权益倡导团体、政府机构和非政府组织聚集在一起。——马新社

马来西亚国内贸易部长表示，马来西亚计划今年完成新的电子商务法案的制定。

马来西亚卫生部表示，截至2026年，该国已登记102例器官捐献者死亡病例，但仍有12575人等待器官移植。

马来西亚副总理扎希德：马来西亚获印尼批准协助扑灭加里曼丹岛雾霾后的山火