Kuala Lumpur: The Credit Counselling and Debt Management Agency (AKPK)’s Debt Management Programme (DMP) has strengthened Malaysians’ financial resilience by approving more than 112,000 case applications and recorded about RM3.2 billion in debt repayments between 2023 and 2024.

According to BERNAMA News Agency, the agency’s Special Biennial Report 2023-2024 highlights that 52,057 cases approved in 2023 were household cases, marking a 50 per cent increase from 34,670 the previous year. Additionally, 60,155 individual cases and 1,697 MSME (Micro, Small and Medium Enterprise) cases were approved in 2024.

The report, launched during the agency’s 19th anniversary with chief executive officer Azaddin Ngah Tasir present, states, “These numbers reflect more than just increasing demand – they embody growing trust in our structured, fair, and compassionate approach to debt resolution.”

The statistics in the report include an increase in repayments under the DMP, which rose to RM1.49 billion in 2023 from RM1.31 billion in 2022, and further climbed to RM1.73 billion in 2024, representing a 15.88 per cent year-on-year growth.

The agency noted that many participants had debt service ratios (DSR) of over 80 per cent before enrolling in the DMP, leaving them with little disposable income. Through the DMP’s tailored plans, participants managed to reduce their DSR to an average of 40 per cent, regaining the ability to afford essential needs like housing, education, and healthcare.

The report emphasized, “Financial hardship often feels like isolation. The DMP transforms that isolation into action, creating a structured pathway to recovery and dignity.”

AKPK, an agency under Bank Negara Malaysia, was established in April 2006 to assist individuals in taking control of their financial situations and achieving peace of mind through the wise use of credit.