14,000 discharged from bankruptcy since 2013

razali-ibrahim

KUALA LUMPUR: A total of 14,108 individuals have been discharged from bankruptcy since 2013, the Dewan Rakyat was told today.

Deputy Minister in the Prime Minister’s Department Razali Ibrahim said the number was 14.2% out of 100,610 individuals declared bankrupt in the same period.

“Of this, 69.1% are men and 30.9%, women,” he said in reply to Er Teck Hwa’s (DAP-Bakri) question on the matter.

Razali said the government was targeting to release more individuals from their bankruptcy status so as not to affect national productivity.

He added that with the work done by Bank Negara’s Credit Counselling and Debt Management Agency (AKPK) and the amendment to the Bankruptcy Act 2016 last year, this target could be achieved.

Under the amendment to the Bankruptcy Act 2016, the maximum bankruptcy amount was raised to RM50,000 from the previous RM30,000.

The act passed by Dewan Rakyat on March 29 last year also provided protection from bankruptcy for social guarantors.

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