Category: Financial Literacy EN

CAP congratulates the Attorney-General Tan Sri Abdul Gani Patail for proposing that the no-fault liability scheme be implemented. Such a scheme is long overdue. We had as far back as the late 1970s and in the early 1990s, called for the introduction of some kind of no-fault motor insurance to benefit consumers. The idea behind no-fault insurance is to get accident victims compensated as quickly...

For the compulsive gambler, gambling is an addiction and when he has a craving for it, nothing else matters.  The gambler is so consumed by his addiction t that he cannot break from it though he knows that he is hurting his family. When his money runs out he takes loans from the Ah Longs to feed his addiction. That is why even when the family has paid thousands of ringgit to get the Ah Longs off...

It is nothing new to read in the papers about a house been splashed with red paint by Ah Longs or a parent tearfully and publicly disowning a son in the hope that the Ah Longs will leave the rest of the family alone. Now and then an Ah Long victim may take his own life as  it is the only way to escape. Case I A farm manager drank weed killer after incurring a RM90,000 gaming loss as a result...

You do not find yourself up to your neck in debts overnight. These things take time. There are signs to watch out for.  If you are experiencing any of the following symptoms below, you’ re over-extending yourself financially. It is time to do something about it.  You consistently postpone paying your bills or pay bills on rotational basis.  You begin to hear from your creditors.  You have...

Sahabat Alam Malaysia (SAM) welcomes the announcement last month by the Norwegian Ministry of Finance to exclude Malaysian-based Samling Global Limited from its Government Pension Fund Global (GPFG) investment portfolio. The pension fund is described as Europe's largest institutional investor that held 2,792 billion kronor (approximately RM1.5 trillion) in international stocks and bonds as of...

CAP applauds Bank Negara’s decision to relax the foreign exchange administration rules, to enable the ringgit to be used as a currency in international trade. The decision makes good economic sense.  Had the decision been made earlier it could have saved local business millions of ringgit. CAP had in fact brought up this matter with Bank Negara and the Ministry of Finance in January 2008....

The Ministry of Finance and Bank Negara Malaysia owes the public an explanation over conflicting reports about the proposed Third Party Bodily Injury and Death Benefits (TPBID) which is going to replace the third-party motor insurance. On one hand Bank Negara (which comes under the Ministry of Finance) has said that the TPBID policy is not finalized and has invited the public to give its...