Draft interest rate rule to fight loan sharks | Bangkok Post: business

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Draft interest rate rule to fight loan sharks

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The Finance Ministry will issue licences to non-financial institutions, allowing them to charge annual interest rates higher than 15% to combat loan sharks, says a senior official. 

A draft ministerial regulation is being prepared to that effect.

However, Somchai Sujjapongse, director-general of the Fiscal Policy Office, said only microfinance loans will carry that rate, as this type of credit is aimed at offering a working chance to individuals.

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