Category: Personal Finance
Banks should put peoples’ welfare before profits
The Consumers Association of Penang (CAP) calls on Bank Negara Malaysia (BNM) to ensure that banks do not impose any interest charges/profit on hire-purchase loans and fixed-rate Islamic financing of the B40 and M20 groups for the six-month moratorium period. Interest charges have already been calculated upfront in the loans. These are extraordinary times. Many …
Continue reading “Banks should put peoples’ welfare before profits”
CAP: Price tagging laws must be enforced
Penang Enforcement Chief, Chin Ching Chuang, from the Ministry of Domestic Trade and Consumer Affairs, yesterday reported in the local daily, that the durian sellers in Macalister Road were slapped with two compounds amounting to RM2,000. The sellers were compounded for displaying misleading prices and not displaying prices in the national language. The routine surveys …
Consumer Credit Act: Sooner is even better
The Consumers’ Association of Penang (CAP) is pleased to know that our Prime Minister Tun Dr Mahathir Mohamad has stated that the tabling of the Consumer Credit Act will be expedited to this year. Last month when the BNM Governor, Datuk Nor Shamsiah Mohd Yunus, had stated that a Consumer Credit Act could finally be …
Continue reading “Consumer Credit Act: Sooner is even better”
CAP: Re-introduce inheritance tax and adjust certain existing taxes to help bridge the gap between the haves and the have-nots.
The Consumers Association of Penang (CAP) is shocked with the pre-empted announcement by the Minister of Finance even before the scheduled budget dialogue which is to be held on 27th June 2019, that the long awaited inheritance tax would not be implemented. This would only contribute to the worsening of the inequality between the haves and the have-nots. Many governments …