Loan-sharking victims call off protest after nine-point deal with government
Summary
Victims of predatory lending suspended their nine-day protest after signing a nine-point deal with the government that includes criminalising loan sharking and drafting a special law within three months.
Key Points
- Victims of loan sharking suspended their nine-day protest after signing a nine-point agreement with the government.
- The agreement includes criminalising loan sharking as an economic crime and drafting a special Predatory Lending Crime Control Act within three months.
- The law will criminalise 14 predatory lending practices and provide mechanisms for invalidating fraudulent loan documents and compensating victims.
- The government will establish tribunals, coordination committees, and financial assistance to support victims and prevent future exploitation.
