Consumer Credit Act 2025 · Updated to 31 Dec 2025 · Part I · Preliminary
5. Credit consumer and credit
Feedback & supportA credit consumer referred to in this Act shall consist of any of the following persons:
credit consumer
“credit consumer” means any person as set out in subsection 5(1);
an individual who obtains, has obtained or intends to obtain credit wholly or predominantly for personal, domestic or household purposes;
a person who is a micro or small enterprise who obtains, has obtained or intends to obtain credit, where such credit does not exceed an amount as may be prescribed by the Minister, on the recommendation of the Commission;
any other person or class, category or description of person as may be specified by the Commission; and
an individual who acts as a social guarantor, not for the purpose of making profit, to a credit consumer under paragraph (a), (b) or (c) in respect of a credit agreement to which this Act applies.
Consumer Credit 19
A credit referred to in this Act shall consist of an arrangement, agreement or facility, in whatever form or by whatever name called, including those made in accordance with the principles of Shariah—
credit
“credit” means any arrangement, agreement or facility as set out in subsection 5(2);
which results in a person being in debt or incurring a financial obligation;
which allows the payment for goods or services sold to a person to be made in instalments; or
such other arrangement, agreement or facility as may be specified by the Commission.