The law must be put in placeto protect borrowers from the marauding lenders who will stop at nothing until they see that they milk their victims dry. These people are commonly known as shylocks and also go with other names like loan sharks, pawnbrokers and bankrollers. What the chairman of the business union, Ayii Duang Ayii revealed on Wednesday this week has been disturbing for a long time. It is commonly known that commercial banks do not give loans to the general public and if they do, the loan must have authenticated and proper collateral that can stand the test of time. This trend has left the door open for some privileged individuals briefcase dealers and some forex bureaus to cast theirs. These people are thieves and steal from the poor who end up losing their own families due to having all their properties sold to recover the loan. Some attorneys’ charged with opening cases in Police Station makes it even worse by hearing one sided report they peg their decision on to bring to book the victim of the shylocks. Loan taken in good faith should be paid back at reasonable interests. Not 100 percent and not by jailing someone. The time spent in jail or Police Station does not stop the interest of the loan from accruing. This is double punishment, the more reason(s) the government must do something and do it immediately to stop the small and middle class people whose income are minimal and mostly depend on such loans from suffering in the hands of these people, both the union and the chamber of commerce should work with relevant arms of the government to come up with legislatives that could go a long way in protecting the victims. It is not too late and each case taken to Police Station should be thoroughly investigated before being opened.
You Might Also Like
WHO IS A TRUE FRIEND
Topical Commentary With Odongo Odoyo I often wonder and ask myself this disturbing question “Who is a true friend” The...
JUBA STADIUM SHOULD BE COMPLETED ON TIME
The current construction of Juba International Stadium is set to be completed in June this year, just two months to go. The new face is slotted to have 35,000 capacity at one given time as opposed to the initial planned 7,000 capacity. The cost may be wanting but it should be understood that the world body FIFA is in the lead in contributing to and supporting the project. This time around the management of funds should be keenly monitored and the local football body put in focus to properly account...
From Easter to Pope’s Visit
By Guest Akol Arop Akol Odongo Odoyo Peace begins at home and to society and in the same way, conflict as part of human life could start from home (individuals) and then spread outside to affect others. This shows that the confusions that South Sudan has been going through are first from personal concepts and then escalated by those who don’t seek the truth out of rumors. Simply, an example could be a hate speech or one picking a gun to kill someone he has an issue with. When relatives...
Pay attention to Abyei issues
The two sisterly countries which should handle the Abyei problems seem too busy that they could not pay attention to the disputed land. Lives are perishing day by day, but there is no quick solution to bring peaceful settlement. Sudan is undergoing a serious political crisis which is characterized with demonstrations by citizens demanding a civilian government to be installed while South Sudan, on the other side, is also experiencing both political and communal conflicts despite the peace process going on. This means the two governments are very busy that...