For the past several years, data has consistently shown that more and more people are going bankrupt at a young age.
Between 2015 and 2019, about 85,000 Malaysians below the age of 25 were declared bankrupt, a Sinar Harian article shows.
According to Hijrah Wealth Management founder and consultantRohani Mohd Shahir, the main reason for bankruptcy at a young age is the “five-series” loans: personal, education, car, home and credit card.
“All the loans combined can easily bankrupt a young person,” she said at theWacana Al-Quran Siri 8talk titled “Bankruptcy at a Young Age” organised by Karangkraf group.
Rohani also said that when she was working in the banks in the 1980s and 1990s, it was very rare to see people below the age of 40 being d…
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