AKPK'S DMP STRENGTHENS FINANCIAL STABILITY, APPROVED OVER 100,000 CASES IN TWO YEARS

KUALA LUMPUR, April 14 (Bernama) — The Credit Counselling and Debt Management Agency (AKPK)’s Debt Management Programme (DMP) has strengthened Malaysians' financial resilience by approving more than 112,000 case applications and recorded about RM3.2 billion in debt repayments between 2023 and 2024.

According to the agency’s Special Biennial Report 2023-2024, 52,057 cases approved in 2023 were household cases, a 50 per cent increase from 34,670 the previous year, while 60,155 individual cases and 1,697 MSME (Micro, Small and Medium Enterprise) cases were approved in 2024.

“These numbers reflect more than just increasing demand - they embody growing trust in our structured, fair, and compassionate approach to debt resolution,” the agency said in the report, which was launched during the agency’s 19th anniversary here today, in the presence of its chief executive officer Azaddin Ngah Tasir.

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Statistics of note contained in the report include repayments under the DMP, which surged to RM1.49 billion in 2023, up from RM1.31 billion in 2022, and then climbed to RM1.73 billion in 2024, a 15.88 per cent year-on-year growth.

The agency noted in its report that many participants had debt service ratios (DSR) of above 80 per cent, which left them with virtually no disposable income, prior to enrolling in the DMP.

They managed to reduce their DSR to an average of 40 per cent and regained the ability to meet paying for essential needs like housing, education and healthcare through the DMP’s tailored plans.

“Financial hardship often feels like isolation. The DMP transforms that isolation into action, creating a structured pathway to recovery and dignity,” the report stated.

AKPK is an agency under Bank Negara Malaysia set up in April 2006 to help individuals take control of their financial situation and gain peace of mind that comes from the wise use of credit.

-- BERNAMA