Bank Negara Malaysia welcomes the announcement by the Ministry of Domestic Trade and Cost of Living (KPDN) confirming that the Hire‑Purchase (Amendment) Act 2026 will come into effect on 1 June 2026, with a transition period provided until 31 March 2027 for banks to enhance their systems, processes and infrastructure. These reforms represent an important step towards strengthening consumer protection, improving transparency in hire‑purchase financing and greater flexibility through digital documentation options.

For more information on the key changes introduced under the Act, please refer to the Consumer Guide: Five Key Highlights of the Hire‑Purchase (Amendment) Act 2026.