Serious preventive measures have to be taken to overcome loan sharks Press Statement by Dato Mah Siew Keong Gerakan Vice-President and Head of Central Economic Bureau - Parti Gerakan Rakyat Malaysia

Serious preventive measures have to be taken to overcome loan sharks Press Statement by Dato Mah Siew Keong Gerakan Vice-President and Head of Central Economic Bureau

As occurrences on the conduct of Ah Longs have inevitably cropped up again, serious preventive measures have to be taken to overcome this problem. 

While banks and financial institutions are the normal avenues for people to obtain loans for various purposes, basic requirements such as having a stable salary or a permanent occupation tend to make it difficult for people to apply for such loans. This is especially so if the individual does not have a permanent occupation but is nevertheless in urgent need of financial help. In addition such requirements are also a hindrance to owners of small businesses who seek monetary help. 

The government can help reduce cases of people borrowing from Ah Longs by making financial help accessible to those unemployed or without permanent employment and also to owners of small businesses. The approval and implementation of an initiative such as this has been long overdue and financial help should be made immediately and correctly to those who are truly in need.  
In light of cases where individuals who, in dire need of financial help, turn to Ah Longs for loans, such initiative if implemented would contribute to the overcoming of the Ah Long menace that has plagued society for too long. GERAKAN hopes that this matter will be treated with great urgency and that this process should also take into consideration the views of all parties involved. 

This is in relation to the recent statement made by the deputy minister of finance Dr. Awang Adek Hussin that the government will look into the possibility of providing financial loans to individuals who are not under permanent employment. He further said that loans the government gave out at the moment were mostly for those who are employed and for the setting up of businesses. 

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