PUTRAJAYA: Nearly 40,000 bankrupt individuals have been granted relief through the Second Chance Policy initiative as of February, says Malaysian Insolvency Department (MdI) director-general M. Bakri Abd Majid.
He said the policy aimed to provide relief to up to 130,000 individuals declared bankrupt within a year of the enforcement of the Insolvency (Amendment) Act 2023 [A1605] which came into effect on Oct 6, 2023.
This policy offers bankrupt individuals the opportunity to rebuild their lives despite their bankruptcy status. We can see that the government is committed to ensuring no one is left behind in the countrys development.
We aim to grant relief to 130,000 bankrupt individuals by the end of this year. This figure is 50 per cent o…
Read the full article at: https://thesun.my/local_news/second-chance-policy-allows-nearly-40000-bankrupt-individuals-to-start-afresh-LI12291947