GXBank, AKPK Partner To Boost Financial Resilience In Malaysia

Samuel Chua

11th September 2025 - 2 min read

GX Bank Berhad (GXBank) is working with the Credit Counselling and Debt Management Agency (AKPK) to improve financial resilience among Malaysians. The partnership, announced on 9 September 2025, seeks to expand access to financial education and debt management support at a time of ongoing economic uncertainty.

Focus on Education and Debt Support

As part of the collaboration, GXBank and AKPK will deliver financial education content for customers and gig workers through digital platforms and community events. They will also integrate AKPK’s debt management support into GXBank’s services to assist retail and micro, small, and medium enterprise (MSME) customers with loan repayments under AKPK’s programmes.

Addressing Financial Vulnerability

The collaboration responds to findings from the RinggitPlus Malaysian Financial Literacy Survey 2024, which showed that six in ten Malaysians have savings that would last only up to four months if their income were disrupted. While a third of respondents reported being able to save more than RM500 a month, more than half admitted to spending all or more than what they earn.

The survey also highlighted gaps in retirement planning. Only 38% of Malaysians said they are confident about having enough savings for retirement, while a majority expect to depend on EPF as their main source of funds.

A Growing Digital Financial Landscape

RMFLS 2024 found that 95% of Malaysians now use at least one e-wallet, reflecting how quickly digital payments have become part of daily life. Nearly half already have an account with at least one digital bank, and another 26% plan to open one in the future. At the same time, scams remain widespread, with 86% of respondents encountering at least one fraud attempt in 2024.

RMFLS 2024 findings underline the need for initiatives that combine financial education with practical support. With many Malaysians struggling to build sufficient savings, prepare for retirement, or protect themselves from scams, targeted programmes can help address gaps in both knowledge and financial resilience.

As RMFLS 2025 approaches, attention will likely remain on whether Malaysians are building stronger savings buffers, improving retirement readiness, and becoming more confident in navigating the risks of an increasingly digital financial landscape.

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