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2026-02-16 15:24:03
[Malaysia Launches "Second Opportunity Fast Track" Policy to Help Four Types of Bankrupt Individuals Rebuild Their Lives] ⑴ The Malaysian government has launched the "Second Opportunity Fast Track" policy, aiming to provide a fast track and expedite the bankruptcy process for four target groups of bankrupt individuals. Minister in the Prime Minister's Department (Law and Institutional Reform), Datuk Seri Azalina, stated that the policy aims to help these target groups rebuild their lives and continue contributing to the country's development. ⑵ The four target groups eligible for the policy are: single parents, microfinance entrepreneurs, victims of financial fraud, and home loan borrowers affected by unfinished construction projects. ⑶ Azalina stated that through this policy, single parents can return to work, entrepreneurs can resume their businesses, and fraud victims can finally breathe a sigh of relief. She emphasized that this fast track initiative is not merely a repackaging, but rather an empathetic policy that accelerates justice, rescuing individuals from an endless cycle of debt and enabling them to stand up with dignity. ⑷ From a social policy perspective, this policy, through targeted exemptions and a fast-track debt resolution mechanism, releases productivity for specific vulnerable groups, reflecting social inclusion and helping to revitalize the micro-economy. (5) In the future, attention should be paid to the actual number of people whose debts have been resolved after the policy is implemented and the evaluation of its effects, as well as whether it will be extended to more bankrupt groups in the future.
