Provide loans, banks urged


  • Nation
  • Thursday, 29 May 2003

JOHOR BARU: The Johor MCA will submit a memorandum to the Housing and Local Government Ministry, urging that changes be made to the Moneylending Act to clamp down on the illegal money lending industry. 

In describing it as a social problem, state party chief Datuk Dr Chua Soi Lek said the memorandum would also suggest stricter enforcement to deter loan sharking activities. 

“We also call on banks to make it easier for the public to take up loans so they need not borrow money from loan sharks or alongs

“The Johor MCA wants to bring up this matter to the authorities’ attention as the illegal money lending business had resulted in social problems and criminal cases, “ he said. 

He added those involved in the illegal money lending business have also begun to act boldly by not only distributing their calling cards to offices, shops and homes but had also taken up advertising space in newspapers, offering financial services. 

Speaking to reporters after chairing the state liaison committee meeting, Dr Chua said the party also urged the police to be more sensitive towards complaints lodged by victims, especially if the complainant was not the borrower. 

He said in many cases, those close to the borrowers, such as parents, wives, husbands and siblings, were the ones who were being traumatised or harassed by the loan sharks. 

“The illegal money lending business must be stopped as its repercussions are great. Johor MCA will do its part by helping victims voice their grievances to the ministry and the relevant authorities,” he added.  

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