Justice Secretary Vitaliano Aguirre II said authorities can arrest without warrants for those foreign nationals engaged in money lending trade charging as high as 20 percent interest rate per month.
According to Aguirre, authorities can arrest the foreign nationals as they are operating lending activities without permits.
Aguirre said President Rodrigo Duterte, in a cabinet meeting last January 9, ordered the allocation of P1 billion for micro-lending program to provide loads for small business.
Aguirre also confirmed that the President gave the green light on the deportation of the foreign nationals operating "5-6" lending scheme.
Duterte during the presidential campaign vowed to end money lending schemes of foreign nationals, as according to him, it makes Filipino people poorer. He also said it could kill the enterprising spirit of the Filipinos.
Source: Sun Star Manila
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