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Bankruptcy checks made easy through MyDI phone app

 | May 2, 2017

The smartphone application will be available to the public from May 11.

azalina

PUTRAJAYA: Members of the public can check on their bankruptcy status from May 11 via a newly-launched smartphone application, MyDI.

“The application can be downloaded from May 11.

“From then on, there is no need to visit the Insolvency Department of Malaysia to check on the status,” Minister in the Prime Minister’s Department Azalina Othman Said told reporters after launching the application here today.

She said concerned parents could use the application to check the bankruptcy status of their future daughter-in-law or son-in-law.

It will be useful for employers to check the status of prospective employees and for financial institutions providing loans.

Azalina said the Bankruptcy (Amendment) Bill 2016 was expected to receive the consent of Yang di-Pertuan Agong Sultan Muhammad V next month, and would be known as the Insolvency Act.

The Insolvency Department would also organise a Bankruptcy (Amendment) Bill 2016 tour across the country to explain the eight approved policy amendments, she said.

She said the launch of the MyDI application was the first phase of changes in the Bankruptcy Act.

“In the second phase, the public just need to fill in the form for the release (of a bankrupt status) online and go to the Insolvency Department for endorsement upon fulfilling all the requirements.”

She added that the amendments to the Bankruptcy Act would also establish a “rescue mechanism” in which public and private sector workers could go to the Insolvency Department to apply for a “rescue package”.

As of today, a total of 292,000 Malaysians have been declared bankrupt, she said.

Asked about the issue of bankruptcy among civil servants, she said the number of civil servants declared bankrupt from 2013 to March 2017 stood at 3,547.

According to Azalina, government policy states that civil servants are not allowed to obtain loans of more than 60% of their earnings.

“However, it happens when civil servants borrow money without the approval of department heads and end up in trouble after borrowing more than 60% of their earnings,” she said.


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