Saturday, 10 September 2016 | MYT 4:26 PM
Nazir praises Johari for speaking against developers giving out housing loans
THE STAR
PETALING JAYA: The Finance Minister II Datuk Johari Abdul Ghani has been commended for speaking out against suggestions to allow developers to give out housing loans.
Prominent Banker Datuk Seri Nazir Razak said the focus should instead be on making sure that the middle class could access bank loans at fair prices while the most needy get borrowing subsidies.
"Well done finance minister II for speaking out quickly and firmly against a dangerous idea.
"More unregulated lenders and sub prime borrowers will compound the risk of a debt crisis," said the outspoken brother of Prime Minister Datuk Seri Najib Tun Razak.
He added that more affordable housing was also needed.
Earlier on Saturday, a news portal reported that Johari had pointed out that impracticality of having developers give out housing loans to buyers.
He explained that developers themselves needed a loan from the bank to start a housing project and added that it did not make sense for the developers who are already borrowing money for the project to also give loans to house buyers.
On Friday, Urban Wellbeing, Housing and Local Government minister Tan Sri Noh Omar had said developers could be granted moneylending licenses to be able to lend money to house buyers who failed to obtain a loan from banks.
PETALING JAYA: The Finance Minister II Datuk Johari Abdul Ghani has been commended for speaking out against suggestions to allow developers to give out housing loans.
Prominent Banker Datuk Seri Nazir Razak said the focus should instead be on making sure that the middle class could access bank loans at fair prices while the most needy get borrowing subsidies.
"Well done finance minister II for speaking out quickly and firmly against a dangerous idea.
"More unregulated lenders and sub prime borrowers will compound the risk of a debt crisis," said the outspoken brother of Prime Minister Datuk Seri Najib Tun Razak.
He added that more affordable housing was also needed.
Earlier on Saturday, a news portal reported that Johari had pointed out that impracticality of having developers give out housing loans to buyers.
He explained that developers themselves needed a loan from the bank to start a housing project and added that it did not make sense for the developers who are already borrowing money for the project to also give loans to house buyers.
On Friday, Urban Wellbeing, Housing and Local Government minister Tan Sri Noh Omar had said developers could be granted moneylending licenses to be able to lend money to house buyers who failed to obtain a loan from banks.
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