The Angkatan Koperasi Kebangsaan Malaysia Berhad (Angkasa) will discuss with the Congress of Unions of Employees in the Public and Civil Services (Cuepacs) to examine the impact of the Bank Negara (Bank Negara) new loan requirements on civil servants.
"The discussion scheduled to be held on Tuesday will discuss with Cuepacs on a thorough study on the requirement to limit (repayment for) personal loans to 10 years and housing loan to 35 years for civil servants," said president Datuk Abdul Fattah Abdullah when contacted by Bernama, here.
Abdul Fattah added that the new requirement would burden civil servants if the loan period was limited as their salaries would be deducted more than before and thus, would affect the financial performance of cooperatives under Angkasa.
"I agree with the Bank Negara to reduce the amount of debt by Malaysians but for me, we need to look back at the condition ... should not only be for civil servants, "he said.
On July 5, the Governor of Bank Negara Tan Sri Dr Zeti Akhtar Aziz announced that the central bank had set a maximum period of 10 years for personal loans and 35 years for housing loans for civil servants to curb household debts which currently stood at 83 percent of Gross Domestic Product (GDP).
Bernama
Sat Jul 20 2013
Is climate change making tropical storms more frequent? Scientists say it's unclear
Scientists say it remains unclear how much climate change is reshaping the storm season.
Samples obtained by Chinese spacecraft show moon's ancient volcanism
The material provides new insight into the moon's geological history including the oldest evidence to date of lunar volcanism.
The scamdemic targeting the young and vulnerable
Teenagers and young adults are becoming prime targets for a new wave of cyber scams, a trend raising alarm bells across Southeast Asia.
Japanese manicurist takes on plastic pollution, one nail at a time
Before global leaders address plastic pollution, a Japanese manicurist highlights the issue by incorporating it into her nail designs.
What to watch for ahead of US presidential inauguration
Here's a timeline of events between now and inauguration day.
The battle to reduce road deaths
In Malaysia, over half a million road accidents have been recorded so far this year.
Pro-Palestinian NGOs seek court order to stop Dutch arms exports to Israel
The Dutch state, as a signatory to the 1948 Genocide Convention, has a duty to take all reasonable measures at its disposal to prevent genocide.
How quickly can Trump's Musk-led efficiency panel slash US regulations?
Moves by Trump and his appointees to eliminate existing rules will be met with legal challenges, as many progressive groups and Democratic officials have made clear.
2TM: Consultations on PTPTN loans, admission to IPTA at MOHE booth
Consultations on PTPTN loans and admission to IPTA are among services provided at the Higher Education Ministry booth.
Kampung Tanjung Kala residents affected by flooded bridge every time it rains heavily
Almost 200 residents from 60 homes in Kampung Tanjung Kala have ended up stuck when their 200-metre (m) long concrete bridge flooded.
COP29 climate summit draft proposes rich countries pay $250 billion per year
The draft finance deal criticised by both developed and developing nations.
Bomb squad sent to London's Gatwick Airport after terminal evacuation
This was following the discovery of a suspected prohibited item in luggage.
Kelantan urges caution amidst northeast monsoon rains
Kelantan has reminded the public in the state to refrain from outdoor activities with the arrival of the Northeast Monsoon season.
Former New Zealand PM Jacinda Ardern receives UN leadership award
Former New Zealand prime minister Jacinda Ardern was given a global leadership award by the United Nations Foundation.
ICC'S arrest warrants for Netanyahu, Gallant an apt decision - PM
The decision of the ICC to issue arrest warrants against Benjamin Netanyahu and Yoav Gallant is apt, said Datuk Seri Anwar Ibrahim.
KTMB provides two additional ETS trains for Christmas, school holidays
KTMB will provide two additional ETS trains for the KL Sentral-Padang Besar route and return trips in conjunction with the holidays.
BNM'S international reserves rise to USD118 bil as at Nov 15, 2024
Malaysia's international reserves rose to US$118.0 billion as at Nov 15, 2024, up from US$117.6 billion on Oct 30, 2024.
Findings by dark energy researchers back Einstein's conception of gravity
The findings announced are part of a years-long study of the history of the cosmos focusing upon dark energy.
NRES responds to Rimbawatch press release on COP29
The Ministry of Natural Resources and Environmental Sustainability (NRES) wishes to offer the following clarifications to the issues raised.
Online Safety Bill and Anti-Cyberbullying Laws must carefully balance rights and protections
The Online Safety Advocacy Group (OSAG) stands united with people in Malaysia in the fight against serious online harms.