Beri individu tanpa kerakyatan akses perbankan, gesa Badan Peguam

Badan Peguam is urging the banking industry and regulators to urgently address the issue of financial exclusion faced by the underprivileged, by enabling them to access banking services. President Anand Raj highlighted that most underprivileged individuals lack recognized identification documents, creating a nearly universal barrier to accessing banking facilities.

It is astonishing in this day and age that the banking industry and regulatory bodies have not adopted biometric and advanced technology to enable comprehensive financial inclusion. He suggested alternative forms of documentation, such as school and hospital records, and tech-based identity verification methods. While the Bank Negara (BNM) mandates banks to offer low-cost basic accounts to vulnerable groups, this eligibility is restricted to citizens and permanent residents only.

Even with UNHCR-issued documents accepted as proof of identity for refugees, this exemption does not extend to underprivileged individuals in Malaysia. Anand warned that without a formal bank account, underprivileged individuals are left to rely on cash, unable to save, receive formal wages or start a legitimate business, thereby exposing them to the risks of wage theft and financial exploitation.

The message is clear: in a modern economy, the right to financial inclusion, in accordance with Article 5 of the Constitution, cannot be separated from meaningful financial access. No one should be deprived of meaningful financial inclusion, the right to work and live simply due to lack of formal documentation or overly technical requirements.

The industry, BNM and relevant authorities are urged to stop ignoring this problem and provide meaningful and humane solutions for those in need, without resorting to court proceedings.