KUALA LUMPUR: Improving financial literacy, especially for making housing purchases, will help borrowers to choose a house and financing that match their financial situation, said the Credit Counselling and Debt Management Agency (AKPK).
The agency said this in a statement welcoming the move to set up a RM1 billion Bank Negara Malaysia (BNM) Fund for Affordable Homes under the 2019 Budget to help the lower income group finance their first homes.
AKPK, which was set up by BNM in 2006, provides an online financial education module for those applying for financing under the fund, which is available to Malaysian citizens with a maximum monthly household income of RM2,300. – Bernama
