Usurers, hidden in plain sight as people’s saviors during their time of need, trap desperate people in webs of lies and dizzying interests
Small entrepreneurs, who have been particularly affected by the pandemic and the lockdown, have been forced to take out loans from local creditors, who charge exorbitant rates.
These loan sharks, who operate informal microfinance rackets, are rampant in almost every village in Natore district.
As a result, hundreds of desperate families have become destitute, exploited by these creditors, who are not regulated by law.
Forced into bankruptcy after losing land, homes or their hard-earned businesses, many have resorted to suicide without being able to cope with overwhelming frustration.
Concerned citizens have made allegations that the police are not as active in tackling the deadly and relentless carnage of loan sharks as they are in fighting other crimes. And it allows such fierce patterns to spread like diseases.
Social leaders and people’s representatives say these loan sharks, who hide in plain sight as people’s saviors during their time of need, trap desperate people in webs of lies and dizzying interests.
They operate under the radar to collect crore for thousands and evict poor debtors, who do not pay interest, from their homes and land.
In addition, without any visible intervention from the Anti-Corruption Committee, loan sharks become millionaires free from liability in a short time.
Sharing the tragic story of his brother-in-law, Md Belal of Sadar upazila said that his sister Taslima’s husband Bulbul recently committed suicide, unable to bear the burden of exorbitant interest on his loan.
Bulbul like his sister Malati had become the victim of a fraud that led a financially solvent man like him to lose everything. Unable to repay the original loan due to the high interest, Bulbul borrowed more money from other loan sharks, resulting in unbearable mental pressure and ultimately her demise.
After Taslima sued five people for instigating Bulbul’s suicide, a court sentenced four people to prison while granting another bail.
Md Salam and Mukuk Master of Dighapatiya Bazar said they were desperate and borrowed money from a local loan shark. Later, in order to repay the interest on the borrowed money several times, one had to sell his house and the other his land.
Contacted, Natore Sadar Upazila, vice president of Parishad, Md Baki and president of Naldanga Upazila, Asaduzzaman Asad, said they had been discussing the issue for a long time and called for action against these informal microfinance rackets during the meetings. monthly for the upazila and the district. administration.
The two people’s representatives assured this correspondent that the administration will start working very soon to stem this problem.
Likewise, Natore Police Superintendent Keaton Kumar Saha said they have been discussing the issue and working to find a solution for some time now.
