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Ministry set to reel in loan sharks

Prime Minister Prayut Chan-o-cha has instructed the Finance Ministry to expedite efforts to tackle the problem of loan sharks and ensure the debtors understand and comply with the terms they sign up to.

Government spokesman Sansern Kaewkamnerd said the prime minister is satisfied with the government"s schemes to keep low-income earners away from loan sharks and provide access to formal financial sources.

In its latest move, the government has sent a list of those who borrowed money from loan sharks to the Government Savings Bank (GSB) and the Bank for Agriculture and Agricultural Cooperatives (BAAC) so they can step in.

The two state-run banks have helped more than 4,000 people negotiate with their creditors and provided more than 193 million baht in loans to residents of Nakhon Ratchasima, Suphan Buri and Songkhla since February.

The list of the debtors has been compiled from low-income earners who recently registered to join the government"s social welfare scheme that provides them with a monthly subsidy to buy low-priced consumer products from designated shops.

Lt Gen Sansern said Gen Prayut has told the Finance Ministry to make sure debtors understand that the loan scheme is not designed to pay off their debts and it comes with obligations. Participants are required to undergo a debt negotiating process and financial rehabilitation scheme to ensure their problems are solved in a sustainable manner, he said.

source :

06:54 - 2/01/2018    /    Number : 695095    /    Show Count : 53

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