Malaysia's central bank has imposed measures on household
lending, including limits to loan tenures, which economists today said
will reign in "excessive" consumer borrowing and curb property
speculation.
Bank Negara Malaysia said it will now only allow personal loans of up to 10 years while financing for both residential and non-residential properties will have a maximum payback term of 35 years.
Previously, consumers were allowed to apply for personal and property loans of up to 25 years and 45 years respectively.
The central bank also announced a ban on "pre-approved personal
financing products" - unsolicited loan and credit card offers -
effective immediately.
Although a longer loan term may reduce monthly repayments, it encourages "excessive debt accumulation" and saddles consumers with heavier overall debt burden, the central bank said in a statement on Friday.
Yeah Kim Leng, group chief economist with financial firm RAM Holdings told AFP that the "mild credit tightening" is designed to curb household debt from rising excessively.
"Some consumers are borrowing to the hilt. The government wants to slowdown excessive borrowings and curb property speculation," he said.
Household debt has expanded rapidly over the last five years, increasing by 12 percent a year, the central bank said.
Wan Suhaimi Saidi, economist with Kenanga Investment Bank, described the measures as positive for the economy because it would prevent a "possible bubble burst" in the household debt if consumers continue to enjoy easy borrowings.
The central bank, however, said households who have the financial capacity to take on borrowings will continue to enjoy access to financing.
Yeah ruled out possible interest rate hike as this painful move will hurt growth in the export dependent country amid the weak global economy.
Malaysia's economy is expected to grow 5-6 percent this year powered by strong domestic demand. - AFP, July 7, 2013.
Bank Negara Malaysia said it will now only allow personal loans of up to 10 years while financing for both residential and non-residential properties will have a maximum payback term of 35 years.
Previously, consumers were allowed to apply for personal and property loans of up to 25 years and 45 years respectively.
Although a longer loan term may reduce monthly repayments, it encourages "excessive debt accumulation" and saddles consumers with heavier overall debt burden, the central bank said in a statement on Friday.
Yeah Kim Leng, group chief economist with financial firm RAM Holdings told AFP that the "mild credit tightening" is designed to curb household debt from rising excessively.
"Some consumers are borrowing to the hilt. The government wants to slowdown excessive borrowings and curb property speculation," he said.
Household debt has expanded rapidly over the last five years, increasing by 12 percent a year, the central bank said.
Wan Suhaimi Saidi, economist with Kenanga Investment Bank, described the measures as positive for the economy because it would prevent a "possible bubble burst" in the household debt if consumers continue to enjoy easy borrowings.
The central bank, however, said households who have the financial capacity to take on borrowings will continue to enjoy access to financing.
Yeah ruled out possible interest rate hike as this painful move will hurt growth in the export dependent country amid the weak global economy.
Malaysia's economy is expected to grow 5-6 percent this year powered by strong domestic demand. - AFP, July 7, 2013.
![[UPDATE]
Lelaki ini maut ketika sedang sujud solat di bandar Ariish timur Sinaa, dimana pihak tentera dan polis melepaskan tembakan keatas penyokong Morsi yang sedang solat. Menurut saksi ditempat kejadian, mereka telah cuba untuk meluruskan tangan dan kaki arwah, namun Allah berkehendakkan supaya jasad arwah kekal didalam keadaan sujud. - Apek
[UPDATE]
Kenyataan Ikhwan Muslimin Alexandria
بسم الله الرحمن الرحيم
"مِنَ الْمُؤْمِنِينَ رِجَالٌ صَدَقُوا مَا عَاهَدُوا اللَّهَ عَلَيْهِ فَمِنْهُمْ مَنْ قَضَى نَحْبَهُ وَمِنْهُمْ مَنْ يَنْتَظِرُ وَمَا بَدَّلُوا تَبْدِيلا"
Ikhwan Muslimin berkabung di Alexandria berikutan mangsa keganasan yang meninggal dunia hari ini yang terdiri dari kalangan penyokong presiden yang sah,Dr Mohamed Morsi kerana ditembak samseng yang disokong oleh pasukan keselamatan dan polis tentera di hadapan kawasan utara tentera.
Berikut adalah nama-nama mereka yang telah dikenal pasti setakat ini:
As-Syahid Adel Ahmed Chalabi - Asafra
As-Syahid Amr Farouk - Sidi Bishr
As-Syahid Ahmed Yahia - Laurent
As-Syahid Sheikh Jamal Zaghloul - Sidi Bishr
As-Syahid Abdullah Fadi Awad - Awayed - Ezbet El nakhl
As-Syahid Mohamed Mohi - Glim
(وَلَا تَحْسَبَنَّ الَّذِينَ قُتِلُوا فِي سَبِيلِ اللَّهِ أَمْوَاتًا بَلْ أَحْيَاءٌ عِنْدَ رَبِّهِمْ يُرْزَقُونَ)
صدق الله العلي العظيم
Ikhwan Muslimin-Alexandria
6 julai 2013](https://fbcdn-sphotos-h-a.akamaihd.net/hphotos-ak-prn1/s403x403/994825_10151811606152189_259113892_n.jpg)
Citizens
International strongly condemns the coup by the Egyptian Armed Forces
(EAF) to overthrow President Morsi who was elected by millions of
Egyptian in a free and fair election held last year. A bunch of army
officers loyal to Mubarak suspended the Constitution approved by 14
million Egyptians, amounting to over 77% of those who voted. Only around
22% voted against it.
Not
surprising, the dictatorial regime of Assad and the agents of US
imperialism Saudi Arabia and the UAE share a common fear of political
Islam and the Islamic Awakening.