KUALA LUMPUR – The landscape of debt management in Malaysia is set to become more transparent and well-regulated with the formal establishment of the Association of Malaysian Credit Recovery Agencies (AMCRA).
For decades, the credit recovery sector has played a silent but vital role in safeguarding the nation's financial health, primarily by managing unsecured consumer debts.
As the economy has expanded, so too has the reliance on these agencies to help financial institutions mitigate risks and ensure the stability of the banking system.
AMCRA President Rohan Jayaratnam stated that the industry has evolved from simple collection practices to a sophisticated sector defined by high compliance standards and advanced technological integration.
The launch coincides with the implementation of the Consumer Credit Act 2025 (Act 873) and the introduction of the Consumer Credit Oversight Board (CCOB).
“These new regulatory milestones provide the clarity our sector has long required,” Jayaratnam said.
He added that a formal framework helps the public differentiate between legitimate, licensed firms and the unethical, "underground" operators that have historically tarnished the industry's reputation.
The credit recovery industry is a significant contributor to the Malaysian economy, employing thousands of citizens and successfully recouping billions of ringgit for banks every year.
AMCRA was established to serve as the official representative for these agencies, providing a unified platform to engage with government regulators and stakeholders.
AMCRA Deputy President Datuk Mohd Shahrom bin Mohd Rafik emphasised that the association's core values are rooted in dignity and professionalism.
He revealed that debt recovery is essentially about maintaining the integrity of the financial system, asserting that the process must always be conducted with respect for the individual and within the strict boundaries of the law.
Currently representing over 40 licensed agencies across the country, AMCRA aims to lead the charge in setting national standards and fostering continuous professional development as Malaysia’s consumer credit landscape continues to mature.