Sunday, June 27, 2021

Zahid questions Putrajaya's decison to allow moneylenders to operate

Zahid questions Putrajaya's decison to allow moneylenders to operate

Umno president Ahmad Zahid Hamidi has questioned the decision of Putrajaya in allowing licensed moneylenders to operate during the full lockdown.

In a statement today, he asked if moneylenders and credit firms licensed under the Ministry of Housing and Local Government are essential services.

"We don't understand how moneylenders can be seen as (providing) essential service at this time. They are allowed to operate after the National Security Council (NSC) agreed at its meeting. It is now the 13th service sector (to be approved) under the Covid-19 intelligent management system (CIMS 3.0)," he said.

"But many other business segments that are important, including those related to home-based teaching and learning (PdPR), are still banned," he said.

"Secondly, this will exacerbate the bad perception of the way the government is managing the impact of the Covid-19 pandemic. It is as though (it is) encouraging people who are in trouble (due to the total lockdown) ... to borrow from the moneylenders," he said.

"... there is no noble justification why these moneylenders, which are re-branded as community credit (firms), can be perceived as 'essential'," he said.

"The people will start to question if this is the level of ability of the Perikatan Nasional government to help those who are suffering. It appears as though (the government) is handing over part of its obligation to the moneylenders, who must be providing timely assistance," he said sarcastically.

"Isn't there a better and safer method for the people to secure loans from government agencies, such as the National Entrepreneur Group Economic Fund (Tekun), among others? Maybe using MyKad alone is enough to get an instant loan," he said.

On June 18, the NSC chaired by Prime Minister Muhyiddin Yassin agreed that community credit companies and moneylenders registered under the Housing and Local Government Ministry be allowed to operate during the full lockdown under Phase 1 of the national recovery plan.


  1. i think this is the most essential biz second only to ah long. bank only loan to the rich, better cleae shop now bec pretty useless to common folks

  2. Moneylenders are essential among the lowest rungs of society , because for those who lack documented income, asset or credit records, they are legal lenders of last resort, short of the dangerous step of going to Ah Longs.

    Many people in the informal sector have fallen into this category , the result of the MCOs.

  3. Court Cluster never complain why court justice is not considered an essential service. Crooks and criminals roam free, talk rubbish.

  4. In bolihland the mamak moneylenders r the (un)official source of oversea fund remittances by the ketuanan elites.

    Quick, simple & zilch BN tracing!