KUALA LUMPUR: A total of 305 complaints involving various types of misconduct allegedly committed by moneylenders has been recorded by the Ministry of Housing and Local Government between Jan 1 and Aug 31 this year.
Minister Zuraida Kamaruddin said of the total, 17 cases involved imposing high-interest rates on borrowers.
“However, no complaint was recorded for harassing or intimidating borrowers, which is an offence under Section 29B (1) of the Moneylenders Act 1951,” she said in a written reply posted on Parliament website today.
Zuraida was replying to Pang Hok Liong (PH-Labis) who wanted to know the types of actions taken by the government as moneylending licences had been abused by loan sharks or ‘Ah Long’ as a public front to hide their illegal moneylending activities.
She said under the law, any moneylender found to have intimidated or used violence against borrowers could be fined between RM50,000 and RM250,000, or sent to jail for not more than three years, or both, if convicted.
“For the second or subsequent offence, the offender shall also be liable to whipping,” she said.
Meanwhile, Zuraida said 5,108 units of property have been sold to participants of Malaysia My Second Home (MM2H) programme between 2007 and 2018.
She said they made up 15% out of 43,943 participants approved for the programme, the majority of whom were from China.
“The participants are only allowed to buy a property worth RM1 million and above as stipulated in the guidelines issued by the Economic Planning Unit (now Ministry of Economic Affairs) effective March 1, 2014.
“As participants, they will be given a Multiple Entry Social Visit Pass for 10 years, which is also renewable,” she said in another written reply to Che Alias Hamid (PAS-Kemaman). — Bernama
