The new leadership at Malaysia Punjabi Licensed Money Lenders Association (MPLMA) intends to further strengthen relationships with the governing bodies as well as playing a role of being an effective body for the industry players
MPLMA elected a new team at its AGM on Oct 15, 2022.
The new bench will be led by Mahindar Gill as president, Kaveldeep Singh as vice president, Keshvinder Singh as treasurer and Ravinder Singh Jaj as secretary.
Joining the association as committee members are Palwinder Singh, Amrinderjit Singh, Satnaam Singh, Avtar Singh, Nesibjeet Singh, Harvinder Singh, Tejvir Singh, Prem Singh and Harveender Singh. Its new auditors are Ranjit Singh and Bin Dhaliwal.
“We welcome new memberships to enhance the representation of industry players to the governing bodies,” MPLMA spokesman told Asia Samachar.
MPLMA, or Persatuan Pemberi Pinjam Wang Berlesen Punjabi Malaysia, was formerly known as Punjabi Sahukara Association. It was established in 1952.
It started with the intention of serving the Punjabi community, but today it has about 700 members comprising Punjabi, Tamil and Chinese licensed community lenders.
The governing law that regulates the money lending business is Moneylenders Act 1951.
MPLMA aims to act as a bridge between what is known as Licensed Community Lenders and Government agencies like the Ministry of Local Government Development and financial institutions regulator Bank Negara Malaysia as well as the general public. It has committee members tasked to be the intermediaries between the government and industry players at large.
Its other objectives include to educate members on compliance and changes in government policies and assist in its implementation, facilitate training to upgrade members knowledge and skills to remain competitive and supporting local communities in social and welfare programmes.
Membership is open to all license holders issued by KPKT regardless of race or business volume. For membership enquiry MPLMA can be contacted at +6014 9243 561 or via email firstname.lastname@example.org.