The government will strengthen consumer and financial protection through amendments to the Consumer Protection Act and the continued implementation of the Consumer Credit Act. These measures are part of the Belanjawan MADANI 2026 framework, which aims to ensure fair treatment for consumers and greater accountability among businesses and financial institutions.
Introduction Of Lemon Law To Protect Buyers
The Consumer Protection Act will be amended to introduce a Lemon Law, which provides stronger safeguards for consumers who purchase defective products. The new provision will require sellers or manufacturers to repair, replace, or refund faulty goods that fail to meet acceptable standards.
This amendment will offer Malaysian consumers similar protections already practised in developed markets, ensuring fairer redress processes and higher accountability in product quality and after-sales service.
Strengthening Oversight Of Financial Services
Following the rollout of the Consumer Credit Act, the government will enhance regulatory oversight of lenders and financial service providers. The move aims to prevent predatory lending practices and ensure that borrowers, particularly individuals and small businesses, are treated fairly in all credit-related transactions.
The new framework empowers regulators to monitor non-bank financial institutions more closely and ensure that all credit providers comply with transparent pricing, ethical collection practices, and responsible lending standards.
A Step Towards Fairer And More Transparent Markets
These measures mark a significant step towards building a more transparent and consumer-friendly marketplace. By reinforcing legal protections and improving enforcement, the government seeks to balance consumer rights with business responsibility, creating a fairer environment for all Malaysians.
Both the Lemon Law and the Consumer Credit Act are expected to enhance public confidence in Malaysia’s consumer and financial systems while aligning national policies with international best practices
Stay tuned for more updates from Budget 2026.
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