Deputy Prime Minister Ahmad Zahid Hamidi said for a start, 20,000 borrowers declared bankrupt on technicalities or for their role as social guarantors, will be free of the status in one year.

“We want to release them from the burden they have had to bear as social guarantors. We want this matter to be resolved 100% within five years.

“It may be laborious but not impossible,” he said while closing the Consumer Forum 2017, organised by the Malaysian Islamic Consumers’ Association (PPIM) here, today.

Also present were Minister in the Prime Minister’s Department Azalina Othman Said, PPIM secretary-general Ma’mor Osman and PPIM chief activist Nadzim Johan.

Meanwhile, the deputy prime minister said he hoped PPIM would be inclusive of non-Muslims in their service, to reflect the beauty of Islam.

He also announced a one-off allocation of RM500,000 to PPIM for their activities.

Zahid, who is also home minister said he hoped PPIM would work directly with the police or his ministry, when they had information related to online gambling, illegal moneylenders, white-collar crime and banking account scam syndicates.

Earlier, Azalina  in her speech said the government would negotiate with financial institutions on finding the best mechanism to resolve the bankruptcy issues involving 50,000 borrowers, who were mainly Malay.

She said priority would be accorded to the elderly, ailing, and social guarantors.

Ma’amor meanwhile, said PPIM was optimistic that the move could be expedited.

“Indeed we are committed in seeing this issue through and with the backing of the government, the process will surely be smoother,” he told reporters, adding that the association had been helping bankrupt individuals in settling their cases for more than 10 years.

During the forum, PPIM also expressed its desire for a consumerism chair to be created in the senate.