AKPK expands throughout Malaysia

Since its establishment in April 2006, AKPK has made significant progress, especially after it has expanded its outreach through branches in Penang, Johor Bahru, Kuala Terengganu, Kuching, Kota Kinabalu, Melaka, Kuantan, Ipoh, Alor Setar and Kota Bahru to make its services available to a wider segment of the Malaysian population.

AKPK’s debt management programme assists borrowers to work out budgets that will help them meet their loan obligations and living expenses, thereby minimising non- performing loans and foreclosure of houses.

Since its inception up to January 31, 2017, 527,831 individuals have attended AKPK’s counselling services and from that, 172,452 customers have applied to enrol into the agency’s debt management programme.

“Consumers who approached AKPK for assistance are from all walks of life. In most cases, the factors contributing to their over-indebtedness and inability to repay their debts include poor financial planning, ignorance and lack of financial discipline to live within their means.

“Financial difficulties could also be triggered by unanticipated or change in circumstances such as health problems, death of a breadwinner, loss of employment and business failure,” the agency said.

AKPK’s consumer education programmes aim to nurture more financially astute borrowers and at the same time promote good payment and repayment culture.

“Increasing consumers’ financial literacy enhances their appreciation for the need to save, which serves as the basis for wealth accumulation, preparedness for financial uncertainties and a comfortable retirement ,” it said.

AKPK’s goal is to provide a variety of educational services designed to help individuals take control of their finance sand gain peace of mind that comes from the wise use of credit.