KL fights high household debt
- Published: 5 Jul 2013 at 21.11
- Online news:
KUALA LUMPUR - Malaysia's central bank has imposed maximum terms for mortgages and personal loans, joining Singapore in moving to limit risks from rising household debt.
Household indebtedness levels have been increasing at an average of 12% a year for the past five years, Bank Negara Malaysia said in a statement on Friday.
Malaysian households are the most indebted in Asia relative to what they earn, at 182% of annual income, according to a report released by Standard Chartered Bank this week. The figure for Thailand was 95%, the report said.
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