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Banks spot network of loan sharks who exploit ‘applicants’
March 19, 2015, 8:43 am

The local banks have spotted a network of loan sharks who help applicants by falsifying salary certificates and receive huge commission in some cases 30 percent of the loan money — the money that has been granted through the national manpower support project, reports a local daily quoting banking sources.

The sources said that the network of moneylenders exploit the needs of some citizens who are not allowed to apply for bank loans due to their low salaries or those who are indebted and cannot borrow from banks again. So these loan sharks offer their services to help get maximum amount of loan up to KD 70,000 and the ‘shark’ swallows between 10 and 20 thousand dinars.

The source explained many people who have received loans with the help of the network feel they have been victimized. They also say they were unaware that the network had falsified the certificates. In another development, Minister of Health Dr Ali Al-Obeidi has issued a decision to ban the entry of chemical substances such as bath ‘salts and spices’ into the country without prior approval from the concerned authorities in the ministry, reports a local daily.

These substances are used for illegal purposes, say health sources. The same sources said the ban was imposed after reviewing the provisions of the antidrugs law, anti-psychotropic substances law, and the law on the regulation of the profession of pharmacy, and upon the recommendation and in cooperation of the joint committee comprising personnel from the ministries of Justice, Commerce and Industry, Health and the Kuwait Authority for Customs to combat drugs and psychotropic substances

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