Critical Situation of the Usury Money Receivers

This is a true story about a millions of people who are spending their earthly days below the poverty line.

I don’t have a comprehensive data to prove the reality of my story but it is a hard fact that there are so many people in my locality who are financially very poor. They don’t have their own houses, no vehicles, no bank balance, no worthful articles, no suitable clothes, no reasonable food, no money for medicine and/or for the education of their children.

When such people are in desperate situation, they have to go for such money lenders who charge a great/high amount of extra money against the amount they lend to the needy people.

When we read the texts from the Holy Books, we are told to help the poor and the needy. I don’t understand why some money lenders charge high profit against the amount they lend to the poor and the needy.

Such money lenders claim that they help the poor by lending them money, but the reality is just the opposite. They charge very high rates against the amount they lend. Normally, they charge more than 10% per month to mean 120% annual. Some even charge more than that (up to 15% per month or 180% annual. This is a hard fact but unbelievable.

Let me also highlight a little why the poor people get money from such money lenders. One of the reasons is that there is a wide division among the the rich and the poor. The rich don’t share their resources with the poor to keep them under poverty live. The poor are unable to become rich because they don’t have enough resources to meet even their basic needs (food, residence, clothes, medicine, education etc.). The poor cannot get help from their relatives or friends because those are also poor. If they manage to get any type of help, they cannot return it. Ultimately, they have to go the the money lenders who charge a lot.

No bank or other monetary institutions give any type of loan to these poor and the needy people. The bank give loan to those only who can pay back according to the given plans. Even the employers of such poor people do not give them reasonable amount of loan.

There may by some NGOs pretending to work for such poor people, but I suspect that they are (if not all) working for their own personal gains/motives.

There are numerous apps which offer loans but this is a hard fact that they also charge high mark-up rates. They charge at least 9% per month. If the money receiver fails to pay back the loan within due duration, the apps charge extra amount or fine.

Let me add a part of my personal story. A few years back, I had to face the same situation. I contacted my relatives and friends, I contacted my religious leaders (the ones who knew me very well that I am not among those who dodge others), I sent emails to different donor agencies which are working globally, I contacted hundreds of people even the factory owners but no one helped me.

Not willingly, I had to go for the similar money lenders. It is very sad to mention here that I had to pay millions of rupees extra against the small amount I took as loan from some money lenders and lend their money to receives usury extra amount. Thank God, I am now out of such a bad situation. My children, my aunt, my teacher and my employer helped me to get out of such a pitiful situation.

I have learnt from my own example that this is the need of the time to help the poor and the needy so that they may be in the position to live as normal human beings. I would extend my request to the ones who have financial resources to please do something for the multitudes of such people whom I have requested your attention.

Stay blessed.

Hadayat Nazar

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