200,000 to be freed from bankruptcy, says Azalina
Minister in the Prime Minister's Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said (pic), who disclosed this, said about 186,000 have been discharged so far.
She said the data was obtained by the Insolvency Department for the government to lend a helping hand to the affected group.
'We hope by the end of the year, we can tabulate (people released from bankruptcy status). In total, we hope to hit 200,000 this year,' she said after launching a Financial Literacy Programme for public and private higher education institution students organised by the department here yesterday, Bernama reported.
In tabling Budget 2025, Prime Minister Datuk Seri Anwar Ibrahim announced that the Second Chance Policy would be expanded to benefit those aged 40 and below who have debts not exceeding RM200,000 starting last year.
Azalina said a total of 25,578 bankruptcy cases were recorded from 2021 to May 2025, with 10,145 cases involving the 35 to 44 age group. She said men recorded higher bankruptcy cases than women, at 18,590 over that period.
On the programme, Azalina said it was among the proactive steps taken by the government to update the people with financial management and literacy, especially students about to begin their careers.
About 1,000 students from public and private universities and colleges were involved in the day-long programme.
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