Loan sharks ordered to return bo-Omang

Thursday, July 17, 2014

The Ministry of Labour and Home Affairs has warned unscrupulous cash loan owners holding onto borrowers’ identity cards to return these or face the wrath of the law.

The warning comes as the Non-Bank Financial Institutions Regulatory Authority (NBFIRA) battles to restrain illegal cash loans who are believed to be behind unfair lending practices, which include the retention of identity cards.

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