The growing use of Buy Now, Pay Later (BNPL) schemes among young Malaysians is raising concerns about overspending and financial mismanagement. Easy access to deferred payments has made it tempting for youths to purchase beyond their means, often without fully understanding repayment obligations.
BNPL Culture Among Youth Raises Debt and Riba Concerns
Experts warn that this trend could lead to mounting debt, especially among students and early-income earners. The issue is further complicated by concerns over riba (interest), prompting calls for greater awareness of Islamic financial principles in managing personal finances.
Financial educators are urging young consumers to adopt disciplined spending habits and prioritise needs over wants. Emphasis is also being placed on integrating Islamic financial management practices to ensure ethical and sustainable money management.
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