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Welcome to MILMA

The Malaysian Money Lenders Association was established on 14th August 2003. The money lending business in Malaysia has been in existence since before independence. It was operated in small scales by moneylenders who are commonly known as ‘chettys’. Money lending is a legal business, which should be registered under Licensed Money Lenders Acts 1951. Therefore the business is legally accepted and the moneylenders were highly respected by the communities in those days.

Licensed money lending business, has evolved from a small scale industry in the early and mid of the 20th century, to a medium scale industry now, where as some of the licensed money lenders are operating in systematically using enhance financial technology like banks in operating their businesses.

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President's Message

Making licensed money lending more meaningful and professional is priority for my role as the president of the association especially at a time when the lending process is tainted with bad publicity by the acts of loan sharks.

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Mission

Strive to be ethical and professional moneylenders and at the same time contributing to the social economic development of the country

Vision

Professional solution to the micro credit needs of the community within the realms of the moneylenders act 1951

Goals

  • To be one of the key economic players of the country.
  • To unite and guide all moneylenders and help the government to eradicate “loan sharks ” in the community.
  • To improve the image of moneylenders by being ethical, professional and law-abiding.
  • To work closely with the government and at the same time maintain and improve the livelihood of its members.

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