To Carry On The Business Of Money Lending And For These Purposes To Lend Money And Negotiate Loans Companies in Malaysia

Companies in Malaysia that wish to engage in money lending and negotiating loans must first obtain a moneylending license from the Ministry of Housing and Local Government. The application process for a moneylending license is as follows:

1. The company must submit an application form to the Ministry of Housing and Local Government.

2. The company must provide proof of its registered address, as well as the names and addresses of its directors and shareholders.

3. The company must provide a business plan, including information on its financial status, its lending policy, and its anti-money laundering and countering-the-financing-of-terrorism policies.

4. The company must provide a surety bond of RM100,000.

5. The company must provide evidence of a paid-up capital of at least RM500,000.

6. The company must provide a bank statement showing a minimum balance of RM200,000.

7. The company must provide copies of its audited financial statements for the past two years.

8. The company must provide a copy of its Certificate of Incorporation.

9. The company must provide a copy of its Memorandum and Articles of Association.