(Bangkok Post file photo)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. 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: Bangkok Post December 17, 2017 21:11 UTC