Friendly Loan Agreements for Licensed Moneylenders

First things first: Are Friendly Loan Agreements legal? Yes, Friendly Loan Agreements are legal in Malaysia. Parties are allowed to give out loans, and even charge interest on the loan, as long as the lender is not carrying out money lending ‘like a business’. Only institutions who have the necessary licenses issued under the MoneylendersContinue Reading

Moneylenders Malaysia

Is money lender legal in Malaysia? Bank Negara Malaysia does not issue money lending licenses. Money lending business is governed under the Moneylenders Act 1951 and administered by the Ministry of Urban Wellbeing, Housing, and Local Government. Is loan shark legal in Malaysia? Loan sharks or ‘Along’ as they are popularly known amongst Malaysians, are illegalContinue Reading

Moneylenders: Let Us Continue Our Business

KUALA LUMPUR: Business operators desperate for loans may fall for scams if licensed moneylenders are still barred from operating during the movement control order (MCO) period, it has been pointed out.

Should licensed moneylender charge you a upfront payment ?

Today we talk about licensed moneylenders should charge you an upfront payment, deposit, service charge, or any fees? Actually, a licensed moneylender won’t charge you any upfront payment, deposit, or service charge. Just loan shark (ah long) or scammer will charge you upfront payment, deposit, and service charge. Malaysia’s government has set a law forContinue Reading

Loan provided by Fantastic Greetings Sdn Bhd

WHAT KIND OF LOAN PROVIDED BY FANTASTIC GREETINGS SDN BHD ? Fantastic Greetings Sdn Bhd is a licensed moneylending company in Damansara, Petaling Jaya area. They provided many kinds of loan service in their company.  Personal Loan  Business Loan  Emergency Loan (Medical)  Loan for Education (School)  Loan for Marriage  Loan for Overlap  Bank Loan –Continue Reading

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