11th December 2025 - 3 min read
KPKT will develop a new application next year to upgrade i-KrediKom, the ministry’s existing platform that allows the public to verify whether a moneylending company is properly licensed. The announcement was made in the Dewan Negara, where the ministry outlined its plan to modernise digital tools that support safer and more informed borrowing.
Deputy Minister Datuk Aiman Athirah Sabu explained that i-KrediKom is designed to help consumers confirm the licensing status of moneylenders regulated under the Moneylenders Act. The new application will improve this verification process with features such as QR code scanning, digital licence certificates, and shop account checks. These additions aim to streamline authentication, reduce errors, and offer clearer information to borrowers before they proceed with any loan.
The ministry intends for the upgraded platform to support real-time checks at physical premises and online channels. Digital licence certificates, in particular, are expected to offer a tamper-resistant way for consumers to confirm legitimacy.
The Deputy Minister said the digital upgrade is part of a broader enforcement strategy to address illegal moneylending activities. The ministry works closely with the police and the Malaysian Communications and Multimedia Commission to identify unlicensed lenders and remove harmful content linked to them. These efforts operate alongside the licensing requirements under existing legislation to ensure that only authorised entities are allowed to offer moneylending services.
Digital monitoring tools continue to be used to track suspicious advertisements, websites, and online promotions that may mislead the public or imitate licensed operators.
Aiman Athirah was responding to Senator Datuk Rosni Sohar, who asked whether i-KrediKom will integrate with police and MCMC databases to block illegal loan promotions. She confirmed that collaboration is ongoing and noted that more than 300 websites advertising unlicensed loans have already been taken down through joint operations between the ministry and MCMC.
The ministry plans to expand integration work in phases to strengthen data sharing and improve the removal of unlawful advertisements. This is expected to reduce consumer exposure to unregulated lenders that operate outside the legal framework.
The planned upgrade to i-KrediKom comes as the government introduces wider reforms under the Consumer Credit Act 2025. The new law sets consistent standards for non-bank credit providers, strengthens disclosure rules, and brings previously unregulated services into a clearer oversight framework. It also phases in a new regulator, the Consumer Credit Commission, which will gradually take over supervision of moneylenders, BNPL providers, and other credit services.
As these reforms roll out, licensed moneylenders will be required to follow stricter conduct expectations and provide clearer information to borrowers. Improving tools like i-KrediKom supports this transition by giving the public a simpler way to verify licences and avoid unregulated operators, helping create a borrowing environment that is safer and easier to understand.
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Samuel writes about personal finance and financial news, focusing on how banking updates, policies, and promotions affect everyday money decisions. He enjoys making complicated financial topics easier to follow. Outside of writing, he spends his time watching TV shows and occasionally convincing himself he will only watch one episode.
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