249,000 discharged from bankruptcy under Second Chance Policy this year - Azalina
KUALA LUMPUR: A total of 249,000 people have been discharged under the Second Chance Policy so far this year, said Minister in the Prime Minister’s Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said.
This year, the Malaysian government has discharged a total of 249,000 individuals from bankruptcy under the Second Chance Policy, according to Minister in the Prime Minister's Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said. The Insolvency Department has collaborated with the National Film Development Corporation Malaysia (Finas) to provide assistance and advice to the creative industry players grappling with financial difficulties.
The programme aims to offer services and implement the Second Chance Policy, which the department is mandated to carry out. However, the discharge is contingent upon the commitment and ability of the individuals involved. Azalina emphasized the importance of early awareness of available help and encouraged the creative industry players to utilize the Legal Aid Department and mediation centre for civil contracts of RM500,000 and below.
The Insolvency Department and Finas strengthened their cooperation at a press conference following the signing of a memorandum of understanding (MoU) between the two entities. Finas chairman Datuk Hans Isaac highlighted the significance of the initiative and mentioned that the agency would utilize associations under the Malaysian Film Associations Coalition (GAFEMA) to disseminate information on available programmes.
He also revealed that a total of 204,487 people were discharged from bankruptcy in 2025, with 176,851 people discharged in 2024.
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