How AKPK Works and is it really beneficial to you?


AKPK (Agensi Kounseling dan Pengurusan Kredit) or credit Counselling and Debt Management Agency is an agency dedicated to helping Malaysians manage and be aware of financial importance. It was established by Bank Negara Malaysia (BNM) and is a non-profit agency.

For Financial Freedom and Peace of Mind

AKPK’s main objective is to assist Malaysians in taking control of their financial health. This is because Malaysia, like every country in the world has a rising number of households and individuals who are falling into the debt trap through all types of loans.

Take control or go bankrupt

The biggest factor in financial problems today exists particularly among Malaysians between the age of 25 and 34. This is extremely alarming and if nothing is done about it, they are all at risk of bankruptcy by the age of 40. Banks and financial institutions are offering very easy access to credit cards and personal loans and these options have fueled the ‘impulse buying behavior’ among the young adults.

Living beyond means

For Malaysians, the average living wage is:

  • Single adult: RM2,700 per month
  • Couple with no children: RM4,500 per month
  • Couple with 2 children: RM6,500 per month

The problem: About 27% of households earn LESS than the average. That is why they turn to loans.

Fact: More than 65,000 Malaysians have been declared bankrupt in the last 5 to 6 years and these people are between 18 and 44 years old.

Where does AKPK come in?

AKPK provides a few major services. Which are:

  • Financial Education: This is done through giving talks, briefings and related programs that help create awareness about financial management and freedom.
  • Financial Counselling: Qualified financial advisors provide confidential counselling services to households who need help and assistance in managing their finances. This also includes helping them to improve on their credit ratings for better loan applications.
  • Debt Management Programme (DMP): A program specifically tailored to help anyone who cannot get out of a debt situation by consolidating them and clearing them.

AKPK is not a bank

AKPK is NOT a financial institution. It functions as a non-bias party in helping people with financial problems. What AKPK does is to help both lenders and borrowers derive a plan that will benefit both parties. Through the DMP, the borrower can slowly but steadily gain financial freedom by paying off the debts with no additional loss for the lender.

AKPK can help only if you ask for it

Services offered by AKPK is very helpful and truly benefits anyone who needs it. Not everyone who graduates and starts working will know how to manage their finances. It would be sound to start learning through AKPK who can provide all the resources to start. That is why AKPK gives talks not only for the public but at universities too because such education should start before they graduate.

Clear your debts the right way

There is no reason to use one loan to cover another. The cycle will never end. Anyone who thinks they are in too deep of debt can seek AKPK’s help through DMP. The main thing here is to come clean and talk to a counselor. They will help you manage your monthly expenses and income and then talk to the banks to derive a payback plan. Your honesty is most crucial here if you have the commitment to get financial freedom.

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