Finance to introduce final measures to resolve unregulated loans

The Ministry of Finance will present new measures to resolve the unregulated or unofficial loans once and for all on February 27.

Somchai Sajjapongse, the ministry’s permanent-secretary, said the new measures represent a comprehensive action that will be implemented to deal with both debtors and lenders of such loans.

He said all the measures have been forwarded to the cabinet for approval.

They include the introduction of Nano-Finance, Pico-Finance and a policy to crackdown on all providers of unregulated loans in the country.

He said the intention is to have all people who are indebted in unofficial loans to transfer these loans into official bank loans with the Government Savings Bank and the Bank for Agriculture and Agricultural Cooperatives.