Loans using EPF as collateral will only increase debts, say economists

ECONOMISTS express disdain over Prime Minister Anwar Ibrahim’s proposal to introduce a scheme that allows Employees Provident Fund (EPF) contributors to apply for bank loans by using their retirement fund as collateral.

They told The Malaysian Insight contributors should not be burdened with another form of loan, adding that Putrajaya must come up with an alternative that does not involve usury.