Joint workshop to discuss state housing policy

The Penang government and Bank Negara will hold a workshop early next month to discuss the state housing policy following a fruitful meeting between the two parties.

State Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo said that during the meeting recently, Bank Negara had shared the criteria to be considered when it processed housing loans.

“We will discuss the requirements of the applicants for low-cost, low medium-cost and affordable housing with Bank Negara.

“Our intention is to find solutions to narrow the gap between the total housing loan applicants and the loan rejection rate.

“Bank Negara has highlighted that the household debt rate in Malaysia is high, which is 89% from the total gross domestic product,” Jagdeep told a press conference in Komtar.

He said there was a need for prudent debt management.

Jagdeep added that the workshop would also discuss in detail the process by the commercial banks when considering a housing loan. - By The Star

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