IT is estimated that around 4,000 individuals, especially single mothers and fathers, will be discharged from bankruptcy through the fast-track initiative in conjunction with the Hari Raya Aidilfitri celebration.
Prime Minister Datuk Seri Anwar Ibrahim said that the bankruptcy relief effort is part of measures to ease the burdens of the people.
"The Madani Government, through the Insolvency Department, will implement the 'fast track' bankruptcy initiative.
"All these measures are a manifestation of the values of kindness and humanity that are the core of the government in ensuring that the people continue to enjoy the benefits of the prosperity that we have worked for together," he said in a Facebook post.
At the same time, he also reiterated his advice for the people to continue spending prudently throughout the Aidilfitri celebrations.
"In a world economy that is still uncertain, all parties need to manage their finances in a disciplined manner in preparation for future uncertainties," he said.
On Feb 16, the government launched a ‘Second Chance Fast Track Policy’ to expedite the bankruptcy discharge process for four vulnerable groups: single parents, microloan entrepreneurs, victims of financial fraud, and housing loan borrowers affected by abandoned projects. – March 17, 2026
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