Debts must be repaid, don’t appeal to me, says Asyraf Wajdi

PETALING JAYA: Chairman of Majlis Amanah Rakyat (Mara), Datuk Dr Asyraf Wajdi Dusuki, has criticised individuals who neglect their loan repayments despite the agreements being contracts for loans, not charity.

He said that all debts must be repaid as the funds belong to the public and are managed with utmost trust under Mara’s stewardship.

“I am entrusted with the public’s funds under Mara and will be held accountable before Allah SWT!

“Debts must be repaid! Don’t appeal to me because it’s not within my rights to waive debts.

“It’s unacceptable to default on repayments when the agreements signed are for loans, not charity—especially if one is capable of paying but chooses to live lavishly,” he wrote in a Facebook post on Tuesday (Dec 10).

Mara offers various business loans, including the Postgraduate Entrepreneur Programme or Youth with a maximum of RM10,000, the Special Women’s Business Financing Scheme up to RM150,000, and the Easy Business Financing Scheme up to RM500,000.

Additionally, the Industrial Value Chain Development provides funding of up to RM1mil, the Mara Entrepreneur Guarantee Scheme offers up to RM2mil, and the highest loan amount is under the Bumiputera Export Promotion Financing Scheme (GEB) at RM2.5mil.

According to Sinar Harian, Asyraf also criticised some borrowers for deliberately failing to repay their loans while flaunting their wealth.

He asserted that such actions are unfair to everyone else, urging those facing difficulties in repayment to notify Mara.

“We are firm on this matter because I am entrusted with managing Mara’s funds, which belong to the public.

“I don’t have the authority to write off loans, but if there are issues, borrowers should come forward. However, it’s unacceptable for some to refuse to pay despite having no issues and displaying luxury lifestyles.

“This is unfair to everyone,” he said after attending a ceremony for the handover of SCS Class 92 trains for the Maintenance, Repair & Overhaul (MRO) Project and a collaboration agreement between M Rail Technics (Railtec) and Universiti Kuala Lumpur (UniKL) at the KTMB EMU Depot on Tuesday (Dec 10).

He was responding to the case of a popular actress accused of failing to repay a loan worth nearly RM1mil. However, Asyraf declined to comment on the specifics of the loan in question.

He reiterated that Mara would not show favouritism in taking firm action against defaulters, ensuring that every sen of public funds is recovered.

“We can reschedule repayments for those with difficulties, but the real issue arises when borrowers fail to take responsibility for their debts,” he said.

He expressed disappointment that some borrowers disappear but only resurface when legal action is taken against them.

He said that all borrowers must commit to repaying their business or education loans according to the agreed schedules.

“If there are problems, come forward for discussions so that restructuring and rescheduling can be arranged.

“There are no additional costs involved, and legal actions are a last resort,” he said.

Additionally, Asyraf pointed out that studies have shown some borrowers place loan repayments at the bottom of their priorities.

“They prioritise car loans, housing loans, and personal loans, but Mara loans are often seen as the least important—or even ignored entirely—because they assume it’s government money,” he said.