Financial Affidavit Template for Malaysia

A Financial Affidavit is a sworn legal document that requires you to declare your complete financial position under oath in Malaysia. This comprehensive statement outlines all your assets, liabilities, income sources, and regular expenses, serving as formal evidence in various legal proceedings. The document must be verified by a Commissioner for Oaths and carries the full weight of Malaysian law, making accuracy and completeness essential.

When do you need this document?

You will typically need a Financial Affidavit during divorce proceedings where the court requires full financial disclosure for property division and maintenance determinations. Bankruptcy applications also mandate this document to demonstrate your financial status to creditors and the court. Banks and financial institutions may request a Financial Affidavit for significant loan applications or credit facilities. Additionally, you may need this document for child custody cases involving maintenance calculations, probate matters requiring asset declarations, or when ordered by Malaysian courts for any financial investigation or enforcement proceedings.

Key legal considerations

Your Financial Affidavit must include complete disclosure of all income sources, including salary, bonuses, rental income, investment returns, and business profits. Asset declarations must cover real estate, vehicles, bank accounts, investments, insurance policies, and personal valuables with accurate valuations. All liabilities including mortgages, credit card debts, personal loans, and business obligations must be fully disclosed. The document requires your personal information including NRIC or passport details, current address, and employment information. Most critically, you must understand that making false statements carries severe penalties under Section 199 of the Penal Code, including potential imprisonment and fines.

Legal requirements in Malaysia

Under the Statutory Declarations Act 1960, your Financial Affidavit must be sworn before a Commissioner for Oaths, who will verify your identity and witness your declaration. The Rules of Court 2012 specify formatting requirements including proper headings, numbered paragraphs, and specific content structure for court submissions. You must provide supporting documentation such as bank statements, employment letters, property valuations, and loan agreements to substantiate your declarations. The Anti-Money Laundering Act 2001 requires you to declare the sources of all funds and assets, particularly for significant amounts. The Evidence Act 1950 governs how your affidavit will be treated as evidence in legal proceedings, emphasizing the importance of accuracy and proper execution.