The Consumer Credit Commission (SKP) has named former Bank Negara Malaysia Assistant Governor Abu Hassan Alshari Yahaya its first Executive Chairman.
The appointment follows the enforcement of the Consumer Credit Act 2025 on 1 March 2026 and marks the start of the commission’s operations as the body overseeing consumer credit providers in Malaysia.
Abu Hassan previously led the Consumer Credit Oversight Board Task Force, which was set up in July 2021 to work with relevant ministries and agencies on drafting the Consumer Credit Bill.
During his time at BNM, he led several functions including finance, currency management, strategic communications and centralised support services.
He also has experience in banking supervision and served as Secretary to the Board of Directors.
Abu Hassan also served on the boards of the Malaysia Co-operative Societies Commission and the Credit Counselling and Debt Management Agency.
The commission said the three-year appointments were made by the Finance Minister.
The leadership team includes representatives from the Ministry of Finance, Bank Negara Malaysia, the Securities Commission Malaysia and external members from the industry.
Abu Hassan said,
“Malaysia has for the first time witnessed comprehensive legislation specifically focused on the regulation of consumer credit outside the banking sector, thereby strengthening and improving the landscape of the nation’s consumer credit industry.
With the appointment of this first leadership line-up, that combines diverse expertise, experience, and professionalism, SKP is now ready to implement its mandate under the Consumer Credit Act 2025.”
The commission said it aims to support a more responsible and sustainable consumer credit ecosystem while strengthening consumer confidence in the industry.
Featured image: Edited by Fintech News Malaysia, based on images by BNM via LinkedIn, and
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