Consumer Credit Act 2025 comes into operation

02 March 2026

1. a provider of any of the following credit business must obtain a licence from the Consumer Credit Commission:

1. Buy now pay later scheme;
2. Leasing;
3. Factoring;
4. Islamic buy now pay later scheme;
5. Islamic leasing; and
6. Islamic factoring;

2. a provider of any of the following credit business must obtain a licence from the Registrar of Islamic credit providers:

1. Islamic financing facility; and
2. Islamic pawnbroking; and

3. a provider of any of the following credit service business must obtain a licence from the Consumer Credit Commission:

1. Debt collection;
2. Impaired loan or financing acquisition; and
3. Debt counselling and management.