KUALA LUMPUR: Eligible developers can now apply for moneylenders licences to provide loan facilities of up to 100% to property buyers.
The licence will be issued by the Urban Well-being, Housing and Local Government Ministry under the Moneylenders Act 1951 (Amendment) 2011.
Its minister Tan Sri Noh Omar said they are allowing developers to provide housing loans to overcome difficulties faced by buyers in securing bank loans.
To read the full article, you can visit The Government Allow Developers To Be Moneylenders
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