New Moneylender Rules 2026: What Changed for Borrowers

2026-10-13T18:51:49+08:00

Sign a loan agreement on a Monday, and by Thursday you can still walk away from it. That is the practical effect of a rule that took effect on 15 September 2026. The Ministry of Law introduced a mandatory cooling-off period of three business days on unsecured loans from licensed moneylenders, announced on 31 August. During those three days, a borrower can cancel the loan and repay it at a reduced cost, without paying any interest. For anyone who has ever signed for credit and felt uneasy about it on the walk home, the window is the point. What follows is [...]