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A New Era for Consumer Credit - The recently passed Consumer Credit Bill (CCB) in the Dewan Rakyat marks a pivotal shift in Malaysia's financial landscape. For the first time, there will be comprehensive regulation covering consumer credit services, with Buy Now, Pay Later (BNPL) taking center stage.
If you've been worried about getting taxed for withdrawing cash or using your e-wallet, rest easy—basic banking services will not be affected by the expanded Sales and Service Tax (SST). That's the official word from Malaysia's key banking associations, who issued a joint clarification on 26 June 2025 to clear up confusion surrounding the SST expansion.
