{"id":19259,"date":"2023-03-21T12:23:48","date_gmt":"2023-03-21T04:23:48","guid":{"rendered":"https:\/\/jesseltontimes.com\/wpmarch2025\/?p=19259"},"modified":"2023-03-21T12:23:48","modified_gmt":"2023-03-21T04:23:48","slug":"proposal-to-use-epf-savings-as-bank-loan-collateral-not-against-epf-act-pm","status":"publish","type":"post","link":"https:\/\/jesseltontimes.com\/wpmarch2025\/2023\/03\/21\/proposal-to-use-epf-savings-as-bank-loan-collateral-not-against-epf-act-pm\/","title":{"rendered":"Proposal to use EPF savings as bank loan collateral not against EPF Act &#8211; PM"},"content":{"rendered":"<p>KUALA LUMPUR: The proosal to allow Employees Provident Fund (EPF) members to use their savings as collateral for bank loans does not breach Section 51 of the EPF Act, said Prime Minister\u00a0Datuk Seri Anwar Ibrahim.<br \/>\nAnwar, who is also Finance Minister, said the government had checked with EPF and the Attorney-General for legal advice on this matter.<br \/>\nHe said this method of applying for bank loans would not jeopardise\u00a0the interests of EPF members\u00a0because they would continue receiving dividends on the savings used as collateral.<br \/>\n\u201cFor example, RM50,000 is used (as collateral) for loans but dividends will be given in full according to the original amount. So there is no deduction\u00a0(dividend),\u201d he said during the Minister\u2019s Question Time (MQT) in the Dewan Rakyat today.<br \/>\nHe was replying to a supplementary question from Datuk Muslimin Yahaya (PN-Sungai Besar) on whether the proposal would breach the EPF Act and whether the prime minister had sought advice from the Attorney-General on the matter.<br \/>\n&#8212; BERNAMA<\/p>\n","protected":false},"excerpt":{"rendered":"<p>KUALA LUMPUR: The proosal to allow Employees Provident Fund (EPF) members to use their savings as collateral for bank loans does not breach Section 51 of the EPF Act, said Prime Minister\u00a0Datuk Seri Anwar Ibrahim. Anwar, who is also Finance Minister, said the government had checked with EPF and the Attorney-General for legal advice on [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":19260,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[28],"tags":[],"class_list":{"0":"post-19259","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-local-news"},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/jesseltontimes.com\/wpmarch2025\/wp-json\/wp\/v2\/posts\/19259","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jesseltontimes.com\/wpmarch2025\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jesseltontimes.com\/wpmarch2025\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jesseltontimes.com\/wpmarch2025\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/jesseltontimes.com\/wpmarch2025\/wp-json\/wp\/v2\/comments?post=19259"}],"version-history":[{"count":1,"href":"https:\/\/jesseltontimes.com\/wpmarch2025\/wp-json\/wp\/v2\/posts\/19259\/revisions"}],"predecessor-version":[{"id":19261,"href":"https:\/\/jesseltontimes.com\/wpmarch2025\/wp-json\/wp\/v2\/posts\/19259\/revisions\/19261"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jesseltontimes.com\/wpmarch2025\/wp-json\/wp\/v2\/media\/19260"}],"wp:attachment":[{"href":"https:\/\/jesseltontimes.com\/wpmarch2025\/wp-json\/wp\/v2\/media?parent=19259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jesseltontimes.com\/wpmarch2025\/wp-json\/wp\/v2\/categories?post=19259"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jesseltontimes.com\/wpmarch2025\/wp-json\/wp\/v2\/tags?post=19259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}