KUALA LUMPUR, Oct 26 — The government aims to further shorten the processing time for bankruptcy discharges to less than 36 days next year to accelerate the financial recovery of individuals eligible for a second chance.
Minister in the Prime Minister’s Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said said the initiative under the Fast Track Discharge Programme would be implemented through the Malaysian Insolvency Department (MdI).
She said the move was a continuation of the existing fast-track discharge programme, which enables eligible applications to be processed within 36 days, subject to conditions being met and no objections being raised.
Azalina said the government had also strengthened its recovery efforts through the Second Chance Policy, which recorded 253,457 bankruptcy discharges from 2023 to September 2026.
