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A critical appraisal on financial consumer protection in Malaysia

Ilias, Ibtisam@Ilyana and Amin, Naemah (2015) A critical appraisal on financial consumer protection in Malaysia. In: 19th MACFEA National Seminar (MACFEA2015), 19th-20th November 2015, Palm Garden Hotel, Putrajaya.

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Recently, the protection of financial consumer becomes a rising concern of many countries in this world. In Malaysia, Consumer Protection Act 1999 (CPA) is a present law aims at providing protection to general consumer including financial consumer. The coming into force of Financial Services Act 2013(FSA) and Islamic Financial Services Act 2013(IFSA) marks an important milestone in strengthening financial consumer protection and indicates a significant transformation in the legal framework vis-à-vis the protection and empowerment of this group of consumer. While the regulator accountable for consumer protection under FSA and IFSA is Bank Negara Malaysia (BNM), CPA is under the jurisdiction of Ministry of Domestic Trade, Cooperative and Consumerism (MDTCC). For that reason, this paper attempts to critically appraise key provisions under these three statutes with reference to financial consumer protection.

Item Type: Conference or Workshop Item (Other)
Additional Information: 546/46645
Subjects: K Law > K Law (General)
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): Ahmad Ibrahim Kulliyyah of Laws > Department of Civil Law
Depositing User: Assoc.Prof.Dr Naemah Amin
Date Deposited: 06 Jan 2016 15:50
Last Modified: 20 May 2016 10:25
URI: http://irep.iium.edu.my/id/eprint/46645

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