Apart from just the Urban Wellbeing, Housing and Local Government Ministry (KPKT), other relevant ministries or government agencies should also monitor the issuance of the moneylending licences, says a consumer activist.

“Maybe the monitoring body should not be just KPKT. Maybe the Domestic Trade, Cooperatives and Consumerism Ministry should also have the purview, so as to protect the interest of consumers,” Malaysian Muslim Consumers Association (PPIM) chief activist Nadzim Johan told Malaysiakini.

Nadzim was responding to a question on whether there was a need for moneylending to be transferred to the Finance Ministry instead, so as to avoid any conflict of interest.

KPKT minister Noh Omar announced yesterday that the ministry was mulling a proposal for housing developers to be issued moneylending licences.

However, Nadzim (photo) pointed to the long-drawn-out issue of Ah Long (illegal loan sharks) when it comes to moneylenders.

Licensed moneylenders themselves, sometimes, engage the services of Ah Long, Nadzim said.

“They use their licences to show that their activities are not illegal,” he said...