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Financial Consumer Protection Regime in Malaysia: Assessment of the Legal and Regulatory Framework

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  • Habib Ahmed

    (Durham University)

  • Ili Rahilah Ibrahim

    (Zaid Ibrahim & Co)

Abstract

This paper examines the status of the legal and regulatory framework for consumer protection in Malaysia, an emerging economy. Using leximetrics and notions of incomplete law, the paper explores the financial consumer protection regime in the country by examining two aspects of the legal framework: the legal infrastructure and typology of laws. The Malaysian legal framework for financial consumer protection is assessed in light of the good practices identified in international guidelines issued on the themes by OECD and the World Bank. The results highlight the complementary nature and different roles that laws, regulations, and supporting institutions play in achieving a comprehensive financial consumer protection framework in the country.

Suggested Citation

  • Habib Ahmed & Ili Rahilah Ibrahim, 2018. "Financial Consumer Protection Regime in Malaysia: Assessment of the Legal and Regulatory Framework," Journal of Consumer Policy, Springer, vol. 41(2), pages 159-175, June.
    • Handle: RePEc:kap:jcopol:v:41:y:2018:i:2:d:10.1007_s10603-018-9369-0
    DOI: 10.1007/s10603-018-9369-0
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    References listed on IDEAS

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    6. Rutledge, Susan L., 2010. "Consumer protection and financial literacy : lessons from nine country studies," Policy Research Working Paper Series 5326, The World Bank.
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    Cited by:

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