80pc OF LOAN TAKERS ARE WOMEN

23rd May, 2012

KOTA KINABALU: More than 80 per cent of the people who have borrowed from licensed moneylenders in Sabah are women.The majority of them are Bumiputeras.And, 20 per cent of them who defaulted on their repayments have been getting “harassing” phone calls from the moneylenders.The enforcement chief of the Moneylenders & Pawnbrokers Division (MPD) under Ministry of Housing and Local Government Sabah Branch, Supt Haji Abdul Latif Haji Ibrahim told reporters this before launching a one-day workshop attended by 30 licensed moneylenders here yesterday.To a question, Latif said some 40 per cent of the borrowers were civil servants from the various government agencies.“However, there has not been any untoward incident like intimidation involving licensed moneylenders so far,” Latif said.And, he also said there were 219 licensed moneylenders throughout Sabah and Labuan.In Kota Kinabalu, there are over 70 licensed moneylenders, 38 in Sandakan and 25 in Tawau.He added that some of the borrowers have each even taken loans from 13 moneylenders.“Although the situation is quite alarming, it is under control. We are monitoring,” he said.On the workshop, Latif said among others, the participants would be able to learn more about the Moneylenders Act & Regulations (MAR) 1951 (Act 400) which is enforced throughout the country including in Sabah, Labuan and Sarawak.“The law came into effect last year to protect the interest of both the licensed moneylenders and borrowers,” he said.Latif meanwhile warned appropriate action would be taken against licensed moneylenders who breached the conditions stipulated in their licence.“We are not only the law enforcer but are also acting as a ‘middleman’ to resolve problems between the moneylenders and borrowers,” he said.Latif added that they would be conducting a second-series “Ops Carik” in Tawau soon to curb illegal moneylending activities in the district.And, he also advised licensed moneylenders to apply for a permit from the Ministry of Finance before putting up advertisements.

New Sabah Times