SKP To Hold Two-day Industry Briefing Ahead of June Authorisation Implementation

KUALA LUMPUR, May 13 (Bernama) -- The Consumer Credit Commission (SKP) is intensifying industry engagement effort ahead of the implementation of authorisation, covering licensing and registration, under the Consumer Credit Act (CCA) 2025.

This marks a significant milestone in bringing non-bank credit providers and credit service providers within a formal regulatory framework.

As part of this effort, SKP will conduct industry briefing sessions on May 18-19, 2026.

The sessions are intended to provide the relevant unregulated credit industries with the understanding of the necessary requirements and to assist them in preparing for compliance ahead of the authorisation rollout in June.

Executive chairman Abu Hassan Alshari Yahaya said constructive engagement with the industry is vital to ensure that all relevant industry participants are aware of their obligations under the CCA and are well prepared ahead of the implementation of the new regulatory requirements.

“Early engagement will support a smooth transition and contribute to a more transparent and responsible consumer credit industry.

“SKP remains committed to building an ecosystem anchored in high standards of conduct, while ensuring our regulatory framework remains proportionate, enabling sustainable growth and responsible innovation,” he said in a statement today. 

The licensing and registration requirements under the Act will take effect on June 1, 2026, with a six-month transition period provided for industry players to apply for the relevant licence or registration.

Failure to comply with these requirements may result in enforcement action by SKP.

For more information, visit www.skp.gov.my or contact Anna Maria at annamaria@skp.gov.my.

-- BERNAMA