SJKP Guarantees First Homes Financing for All Malaysians
Malaysia's workforce is increasingly made up of gig and freelance workers, resulting in many self-employed individuals being denied access to housing loans due to the lack of formal payslips.
Since 2008, Syarikat Jaminan Kredit Perumahan Berhad (SJKP), a company wholly owned by the Minister of Finance Incorporated (MOF Inc.), has provided government-backed guarantee schemes for gig workers and petty traders, enabling over 76,000 Malaysians to secure RM17.9 billion in home loans from various financial institutions.
SJKP's guarantee schemes have helped many self-employed individuals access housing loans despite the absence of formal payslips.
SJKP's efforts have made a significant impact on the lives of many Malaysians, providing them with the opportunity to own their first homes.
Author's summary: SJKP helps Malaysians.