Government, victims of predatory lending close to agreement
Summary
Talks between the Nepalese government and victims of predatory lending have progressed positively toward formalizing an agreement to classify usury as a serious economic crime, invalidate fraudulent debt documents, and draft a special law against such practices.
Key Points
- The government and victims of predatory lending in Nepal are close to formalizing an agreement to combat usury as a serious economic crime.
- The proposed legal framework includes invalidating fraudulent financial documents and drafting a special anti-usury law within three months.
- A special tribunal and task force will be established to hear cases, investigate money laundering, and prepare implementation plans.
- Home Minister Sudan Gurung actively engaged with victims, listened to their grievances, and reiterated government commitment to addressing their demands.
