Community credit industry hits RM24.8bil in 2023, says Nga

Published on 24 May 2024 4:50:16 PM

The market value of the community credit industry in the country was estimated to have reached RM24.8bil last year.

During the pre-launch of the MADANI Credit Awards on Friday (May 24), Housing and Local Government Minister Nga Kor Ming said the industry's market value is expected to continue growing annually, and emphasised its significant role in supporting the economic chain, particularly within the community and micro sectors.

Nga also advised the public to avoid unlicensed moneylenders, known as 'Ah Long,' as they do not protect consumer interests.