BMA takes its lucrative pawn shops upmarket | Bangkok Post: news

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BMA takes its lucrative pawn shops upmarket

Hocking hubs go hi-tech to look like banks

The sight of people pressing inked thumbs on contracts at pawn shops will be history when a facelift of city-run pawn shops is completed next year.

A woman places her thumb on an electronic fingerprint reader at the Bangkok Metropolitan Administration-run pawn shop on Pradiphat Road. BMA-run pawn shops are undergoing a facelift to make them more pleasant for customers. TAWATCHAI KEMGUMNERD

The ink will be replaced with electronic fingerprint readers as City Hall modernises its pawn shops, said Chatchaval Srinon, director of the Bangkok Metropolitan Administration's Pawn Shop Office.

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Writer: Supoj Wancharoen
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  • gleentea

    ThailandPost : 140

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    Discussion 2 : 28/05/2011 at 12:52 PM2

    kaweeka: 1.25 percent per month.

  • kaweeka

    ThailandPost : 221

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    Discussion 1 : 28/05/2011 at 03:32 AM1

    Wow, really? This is the first time I know that the BMA or any other government agency runs pawn shops. I imagine that the rates are far lower than the for profit ones that usually rob its customrs blind with weekly interest rates that few can ever repay?

    I suppose this is one form of micro-financing - and going for 30 years? If anybody knows the rates they charge I would really apprecite it. It would be very telling on whether they are just using their stature to suck in customers or whether they are providing acceptable financing to people that normally have no access to it.

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