On June 5 the Ministry of Housing and Urban-Rural Development opened a draft
revision of the Housing Provident Fund Management Regulations for public
comment. The draft seeks to broaden the fund’s role to meet diversified housing
needs: expand allowable uses from buying and renting to include home repairs and
upkeep; extend coverage to flexible and self-employed workers; promote
reciprocal recognition and mutual lending and accelerate digitalisation to
simplify access; and strengthen risk controls to prevent fraudulent withdrawals
and loans.
