Bank Negara Malaysia announces today the commencement of the operations of the Agensi Kaunseling Dan Pengurusan Kredit (AKPK). The establishment of the agency is part of the efforts towards building a comprehensive consumer protection framework and to proactively ensure the sustainability and resilience of the household sector. This agency is a wholly owned subsidiary of Bank Negara Malaysia and will provide advisory, counselling and assistance to individuals on areas relating to credit, financial management and education as well as on debt restructuring. The services of AKPK are provided free of charge.

AKPK will provide eligible individual borrowers access to assistance in restructuring debts relating to housing loans, hire purchase, credit card, charge card and other personal loans that have been obtained from institutions¹ regulated by Bank Negara Malaysia. AKPK does not provide any credit facility to customers.

Mohamed Akwal bin Sultan Mohamad, a senior official of Bank Negara Malaysia has been appointed as the Chief Executive Officer of the Agency. Encik Mohamed Akwal has over 25 years experience in the financial sector and has significant experience in debt resolution having served the Danaharta and the Small Debt Resolution Scheme.

Individuals who wish to obtain information about the services of AKPK can contact / visit the following:

1. AKPK's office at:
   Level 8, Maju Junction Mall,
   1001 Jalan Sultan Ismail,
   50250 Kuala Lumpur .
   Toll free number: 1800 88 2575
    
2. AKPK's website at www.akpk.org.my 
    
3. Branches of financial service providers nationwide
    
4. Branches of Bank Negara Malaysia in Kota Kinabalu, Kuching, Pulau Pinang, Johor Bahru and Kuala Terengganu

¹ All commercial banks, all Islamic banks, all insurance companies, all takaful operators, development financial institutions under the purview of Bank Negara Malaysia and credit / charge card issuers under the purview of Bank Negara Malaysia.