Post by mangomoney on Apr 19, 2016 9:31:10 GMT 7
Plan to legalise loan sharks awaits approval
Published: 19/04/2016 at 04:00 AM
Newspaper section: Business
The government's plan to legalise loan sharks will seek cabinet approval soon in a new push to regulate grey-area lenders and facilitate those at the low end of the income scale to get loans.
When legalised, these underground lenders will be allowed to charge borrowers at a high rate but not exceeding the cap, Deputy Prime Minister Somkid Jatusripitak said without mentioning how much the ceiling rate will be.
The measure is a special policy aimed at persuading loan sharks to turn legitimate, he said, adding that the measure aims to assist those who are in dire need of an emergency lifeline for living.
more...
www.bangkokpost.com/business/news/938365/plan-to-legalise-loan-sharks-awaits-approval
Published: 19/04/2016 at 04:00 AM
Newspaper section: Business
The government's plan to legalise loan sharks will seek cabinet approval soon in a new push to regulate grey-area lenders and facilitate those at the low end of the income scale to get loans.
When legalised, these underground lenders will be allowed to charge borrowers at a high rate but not exceeding the cap, Deputy Prime Minister Somkid Jatusripitak said without mentioning how much the ceiling rate will be.
The measure is a special policy aimed at persuading loan sharks to turn legitimate, he said, adding that the measure aims to assist those who are in dire need of an emergency lifeline for living.
more...
www.bangkokpost.com/business/news/938365/plan-to-legalise-loan-sharks-awaits-approval
