KUALA LUMPUR (March 17): The Credit Counselling and Debt Management Agency (AKPK) has introduced the 3P formula — Purpose, Payment Capacity and Payment History — to guide individuals in making responsible credit decisions, particularly in short-term financing like ‘Buy Now, Pay Later’ (BNPL).
AKPK, in a statement on Monday, emphasised that the agency is committed to empowering individuals with the knowledge and tools to manage their finances responsibly, besides helping them evaluate their financial capacity and avoid excessive debt.
“In term of Purpose, AKPK emphasises the importance of borrowing for beneficial and sustainable purposes to fulfil needs that provide long-term benefits, rather than satisfying temporary wants or…
