Latest news with #BuyNowPayLater
Al Bawaba
4 days ago
- Automotive
- Al Bawaba
Al Masaood Automobiles Extends 'Buy Now Pay in 2026' Campaign
Al Masaood Automobiles, the authorised distributor for Nissan, INFINITI and Renault in Abu Dhabi, Al Ain, and the Al Dhafra Region, has extended its popular 'Buy Now Pay in 2026' campaign across both its new and Certified Pre-Owned Vehicles (CPOVs). This initiative provides customers with greater financial flexibility, offering immediate vehicle delivery and deferred payments until 2026, a practical solution for today's more considered purchases. Certified Pre-Owned Vehicles: The campaign covers a diverse selection of Certified Pre-Owned vehicles across the Nissan, INFINITI, and Renault ranges, all designed to deliver excellent value and reliability. Nissan's selection includes best-selling models such as the Altima, Kicks, X-Trail, X-Terra, and Pathfinder, with prices starting from AED 73,000 or AED 1,088 per month. Each Nissan CPOV vehicle comes with up to five years of roadside assistance and manufacturer warranties. INFINITI enthusiasts can explore the luxurious QX50 and QX55 models, priced from AED 149,000 and AED 150,000 respectively, or AED 2,285 and AED 2,300 monthly. All INFINITI Certified Pre-Owned vehicles are backed by manufacturer warranties, ensuring peace of mind. For Renault customers, the campaign features popular models such as the Megane, available from AED 690 per month, and the Koleos, starting at AED 951 per month, delivering stylish and dependable options for every driver. Every vehicle undergoes a rigorous 167-point inspection and reconditioning process to ensure the highest standards of quality and performance and is supported by attractive low-interest financing starting at just 1.99%. Attractive Offers on New Nissan, INFINITI, and Renault Vehicles In addition to the CPOV campaign, Al Masaood Automobiles is offering a host of attractive deals on new Nissan, INFINITI, and Renault vehicles. Nissan's line-up features the 2025 Altima from AED 1,659 per month, the bold 2025 KICKS from AED 1,295 per month, and the popular 2024 Sunny from AED 899 per month. The versatile 2025 X-Trail is available from AED 1,545 per month, while the adventure-ready 2024 X-Terra starts at AED 1,575 per month. Larger family SUVs such as the spacious 2024 Pathfinder start from AED 2,390 per month, complete with up to five years of warranty and 100,000 km of service. Compact SUV buyers can explore the new Magnite, starting from AED 888 per month, while performance enthusiasts will find the iconic Nissan Z from AED 2,725 per month. The flagship all-new 2025 Nissan Patrol is also included in the campaign, offering customers a comprehensive aftersales package for added peace of mind. INFINITI customers can enjoy deals on models such as the QX80, starting at AED 5,499 per month, and the QX60 from AED 2,888 per month with savings of up to AED 55,000. The QX55 and QX50 are available from AED 1,999 per month, offering savings of up to AED 45,000. Renault's new range offers equally compelling value, with the latest Koleos from AED 1,777 per month including three years of free service and a five-year warranty, while the Arkana starts from AED 999 per month, making it an ideal choice for drivers seeking an affordable yet stylish option. Bachir Gemayel, Sales and Marketing Director at Al Masaood Automobiles, said 'At Al Masaood Automobiles, we are committed to making vehicles more accessible to customers, without compromising on quality or service. The extension of our 'Buy Now, Pay in 2026' campaign is tailored to meet the needs of value-conscious buyers seeking the reassurance of certified quality. Through this initiative, combined with attractive offers on new models, we aim to deliver a smooth, rewarding, and customer-focused experience.' The offers are now available across all Al Masaood Automobiles showrooms in Abu Dhabi, Al Ain, and the Al Dhafra Region. For more information, customers can visit showrooms or explore offers online.
New Straits Times
23-07-2025
- Business
- New Straits Times
Consumer Credit Bill to tackle hidden risks in BNPL, instant loans
KUALA LUMPUR: The introduction of the Consumer Credit Bill 2025 will protect Malaysians from financial risks stemming from uncontrolled credit use and unethical lending practices. The Finance Ministry said the comprehensive legislation aims to address challenges posed by the growing digital finance landscape, including hidden risks linked to instant loans and Buy Now Pay Later (BNPL) schemes. "The bill will serve as the primary law regulating all credit-related businesses and services. It will ensure fair conduct by credit providers, mandate transparency in charges, and introduce professional guidelines for debt collection and dispute resolution," it said in a statement. The ministry also said consumers facing financial hardship will also have access to assistance and advice through authorised and registered channels. "For the first time, a Consumer Credit Commission will be established to regulate service providers previously operating without direct oversight, including leasing companies, factoring firms, debt collection agencies and non-bank digital financing providers. "The commission will also streamline regulatory functions currently spread across multiple ministries and agencies under one roof, ensuring more uniform and efficient supervision of the credit industry," it added. The ministry said the bill reflects the government's long-term commitment to creating a safer and more inclusive consumer credit ecosystem, with phased implementation expected to significantly impact the country's financial landscape. Yesterday, the Dewan Rakyat passed the bill after it was tabled for its second and third readings by Deputy Finance Minister Lim Hui Ying today, and was debated by 23 lawmakers. Once gazetted, Lim said, the bill will introduce integrated regulations in phases, taking into consideration the industry's level of preparedness and the growing capacity of the Consumer Credit Commission, which will be gradually strengthened throughout each phase. She added that the commission will also assume regulatory responsibilities in stages, starting with currently unregulated credit providers, with full centralisation of oversight expected by 2031.
New Straits Times
21-07-2025
- Business
- New Straits Times
Include financial literacy in school curriculum, says Puchong MP
KUALA LUMPUR: Puchong Member of Parliament Yeo Bee Yin has proposed that financial literacy be included in the school curriculum. She said children and teenagers need to be taught about money management, credit and investment. "I believe that financial literacy is a vital life skill that should be given greater emphasis in the school curriculum. "Hence, I am suggesting that the Finance Ministry collaborate with the Education Ministry to integrate this crucial life skill into the school curriculum," she said when debating the Consumer Credit Bill 2025 in Dewan Rakyat today. In addition, Yeo said a nationwide public awareness campaign should be launched. "The government as a whole must work to improve the financial well-being of the Malaysians. It is not just about knowing what credit options are available, but also about knowing how to manage one's income. "For example, what percentage should be spent, saved or invested? I urge Bank Negara and the relevant ministries to launch a large-scale campaign to promote financial literacy among the public," she said. Earlier, Deputy Finance Minister Lim Hui Ying tabled the Consumer Credit Bill 2025 for its second reading. Twenty-three members of parliament are expected to take part in the debate. The Consumer Credit Bill 2025 aims to strengthen consumer protection by regulating the credit industry in Malaysia, including overseeing the Buy Now Pay Later (BNPL) scheme.
New Straits Times
21-07-2025
- Business
- New Straits Times
BNPL transactions surge by 18.8 million in first half 2025
KUALA LUMPUR: The total number of Buy Now Pay Later (BNPL) transactions has increased by 18.8 million in the first half of 2025, rising from 83.8 million in the second half of 2024 to 102.6 million transactions, the Dewan Rakyat was told today. Deputy Finance Minister Lim Hui Ying said over the same period, the total value of BNPL transactions rose from RM7.1 billion to RM9.3 billion, representing a 31 per cent increase. "Meanwhile, the number of active BNPL accounts grew from 5.1 million at the end of 2024 to 6.5 million at the end of June this year. "The significant growth of BNPL poses potential risks of harm, particularly to vulnerable credit users, namely, individuals without a stable income, those with low earnings, or those who lack financial literacy," she said during the second reading of the Consumer Credit Bill 2025 in the Dewan Rakyat. Following concerns on the conduct or practices of debt collectors who use force and resort to excessive harassment of credit users, Lim said a statutory body known as the Consumer Credit Commission (CCC) will be established under the act. She added that the commission will also regulate business sectors that are currently unregulated by any authority, through a licensing and registration framework to be implemented under the act. Lim also said the commission will be established as a regulatory body under the Finance Ministry. "Various complaints have also been received regarding the conduct or practices of debt collectors who use force and resort to excessive harassment of credit users. "Complaints have also been lodged against individuals who present themselves as intermediaries or assistants in managing debt, but in reality, exploit the situation for personal gain through manipulation or fraud. There have been growing calls for these individuals to also be regulated," she said. She added that there will be six business sectors that will be regulated under the act, which will be segregated into two categories. The first category, she said, comprises three types of credit businesses that will require a licence from the CCC. They include BNPL schemes, leasing, and factoring, including those that are Shariah-compliant. The second category, meanwhile, covers three types of credit service businesses that must be registered, which are debt collection, acquisition of non-performing loans or financing, and debt counselling and management. "In line with the government's whole-of-government approach, the act will also provide for two types of credit businesses that will require a licence from the Housing and Local Government Ministry, which are Shariah-compliant financing facilities and Shariah-compliant pawnbroking, also known as Ar-Rahnu," she said. She added that the bill, once passed, will serve as an umbrella legislation and empower the commission and other regulatory and supervisory authorities, namely the Housing and Local Government Ministry, the Domestic Trade and Cost of Living Ministry, Bank Negara Malaysia, Securities Commission and the Malaysia Co-operative Societies Commission to regulate their respective segments of the credit industry. She added that this was because Malaysia's consumer credit landscape currently operates under a fragmented regulatory framework, which has led to uneven levels of oversight for non-bank credit providers, as well as inconsistent and insufficient protection standards for credit consumers. "The lack of uniform safeguards across the credit sector has left many consumers vulnerable to unfair and exploitative practices. "Many credit users are uncertain about which authority to approach to lodge complaints under the existing legal framework. "This inconsistency arises from the lack of harmonisation in standards and rules governing consumer credit protection."
New Straits Times
21-07-2025
- Business
- New Straits Times
RM18.8 million surge in BNPL transactions in first half of 2025, Dewan Rakyat told
KUALA LUMPUR: The total number of Buy Now Pay Later (BNPL) transactions has increased by RM18.8 million in the first half of 2025, rising from RM83.8 million in the second half of 2024 to RM102.6 million transactions, the Dewan Rakyat was told today. Deputy Finance Minister Lim Hui Ying said over the same period, the total value of BNPL transactions rose from RM7.1 billion to RM9.3 billion, representing a 31 per cent increase. "Meanwhile, the number of active BNPL accounts grew from 5.1 million at the end of 2024 to 6.5 million at the end of June this year. "The significant growth of BNPL poses potential risks of harm, particularly to vulnerable credit users, namely, individuals without a stable income, those with low earnings, or those who lack financial literacy," she said during the second reading of the Consumer Credit Bill 2025 in the Dewan Rakyat. Following concerns on the conduct or practices of debt collectors who use force and resort to excessive harassment of credit users, Lim said a statutory body known as the Consumer Credit Commission (CCC) will be established under the act. She added that the commission will also regulate business sectors that are currently unregulated by any authority, through a licensing and registration framework to be implemented under the act. Lim also said the commission will be established as a regulatory body under the Finance Ministry. "Various complaints have also been received regarding the conduct or practices of debt collectors who use force and resort to excessive harassment of credit users. "Complaints have also been lodged against individuals who present themselves as intermediaries or assistants in managing debt, but in reality, exploit the situation for personal gain through manipulation or fraud. There have been growing calls for these individuals to also be regulated," she said. She added that there will be six business sectors that will be regulated under the act, which will be segregated into two categories. The first category, she said, comprises three types of credit businesses that will require a licence from the CCC. They include BNPL schemes, leasing, and factoring, including those that are Shariah-compliant. The second category, meanwhile, covers three types of credit service businesses that must be registered, which are debt collection, acquisition of non-performing loans or financing, and debt counselling and management. "In line with the government's whole-of-government approach, the act will also provide for two types of credit businesses that will require a licence from the Housing and Local Government Ministry, which are Shariah-compliant financing facilities and Shariah-compliant pawnbroking, also known as Ar-Rahnu," she said. She added that the bill, once passed, will serve as an umbrella legislation and empower the commission and other regulatory and supervisory authorities, namely the Housing and Local Government Ministry, the Domestic Trade and Cost of Living Ministry, Bank Negara Malaysia, Securities Commission and the Malaysia Co-operative Societies Commission to regulate their respective segments of the credit industry. She added that this was because Malaysia's consumer credit landscape currently operates under a fragmented regulatory framework, which has led to uneven levels of oversight for non-bank credit providers, as well as inconsistent and insufficient protection standards for credit consumers. "The lack of uniform safeguards across the credit sector has left many consumers vulnerable to unfair and exploitative practices. "Many credit users are uncertain about which authority to approach to lodge complaints under the existing legal framework.
