Kuala lumpur: The Consumer Credit Commission (SKP) has released the Authorisation Standards (AS) and Conduct Standards (CS) to regulate buy now pay later (BNPL) schemes along with five other consumer credit activities under the first phase of the Consumer Credit Act 2025 (CCA). These new standards aim to establish clear guidelines for licensing, registration, and conduct requirements to ensure the proper implementation of the CCA. According to BERNAMA News Agency, the AS and CS, applicable to the six key business activities under Phase 1 of the CCA, set out these obligations in a structured manner, part of SKP's broader efforts to promote ethical conduct among non-bank credit providers and credit service providers. The six previously unregulated business activities now under SKP's regulation include BNPL schemes, factoring, leasing, debt collection, impaired loan or financing acquisition, and debt counselling and management. SKP executive chairman Abu Hassan Alshari Yahaya stated that the issuance of the A S and CS signifies the establishment of foundational standards under the CCA, establishing clear expectations for market entry and conduct. He emphasized SKP's commitment to aligning industry practices with its mandate to protect consumer interests while supporting sustainable industry growth. The Authorisation Standards outline the procedures and criteria for registration and licensing for an Authorised Entity, while the Conduct Standards delineate comprehensive obligations to support fair, responsible, and professional practices across the consumer credit industry. The issuance of these standards follows SKP's industry briefing sessions held in May, which were attended by over 400 industry practitioners and received positively. Further engagement efforts by SKP include plans for regional industry briefings, ensuring industry readiness ahead of the licensing and registration requirements set to be enforced by the end of the year.