Bank Negara Malaysia Introduces Standardised Housing Loan and Home Financing Agreement For Retail Borrowers/Customers

KUALA LUMPUR, 29 MARCH 2023 - Bank Negara Malaysia has announced the introduction of a standardised housing loan and home financing agreement for retail borrowers/customers. This initiative seeks to enhance the quality-of-service delivery, promote consumer understanding and comparability of key terms and conditions, and simplify language in such agreements, including borrowers'/customers’ and financiers' responsibilities and obligations.

This move reinforces Bank Negara Malaysia's commitment to promoting fair consumer outcomes in the financial industry in accordance with the Policy Document of Fair Treatment of Financial Consumers, as well as other relevant policy documents, guidelines, and circulars issued by the central bank.

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