It also concluded that client protection regulation needs substantial strengthening and noted that self-regulation [of Cambodia’s micro-loan sector] is insufficient
(Bangkok) The World Bank Group should investigate alleged coerced land sales and other rights abuses linked to predatory lending and over-indebtedness in the micro-loan sector, Human Rights Watch said today. These longstanding problems have worsened during the economic crisis resulting from the Covid-19 pandemic.
An external report in , the Microfinance Index of Market Outreach and Saturation (MIMOSA), based on data provided by the World Bank Group’s International Finance Corporation (IFC), found serious problems in Cambodia’s micro-loan sector. Civil society groups and investor-commissioned reports have corroborated these findings, which highlight the need for action to protect micro-loan borrowers in the country.
In a follow-up letter on bodian Microfinance Association (CMA) to issue guidelines to CMA members that would limit any borrower from having more than three active micro-finance loans
International donors to Cambodia’s micro-loan sector should not be feeding a system that is abusing the rights of highly indebted borrowers struggling during a public health and economic crisis, said Phil Robertson, deputy Asia director at Human Rights Watch. Continuar leyendo: “It also concluded that client protection regulation needs substantial strengthening and noted that self-regulation [of Cambodia’s micro-loan sector] is insufficient” →
Publicado el 16/3/2022 Categoría Michigan payday loans online same day deposit.
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