The president of the Peruvian Federation of Municipal Savings and Credit Boxes (FEPCMAC)Jorge Solís denounced that both its members and other companies in the microfinance system, including financial and rural boxes, are being seriously affected by citizen insecurity.
According to Solís, several credit analysts from the municipal banks have been victims of robberies and extortion, making their work difficult in populous districts in the country. “In Ica and Chincha, a municipal box was the victim of a terrorist attack. In October last year, an ATM was destroyed with explosives because the entity refused to pay a quota, ”he said.
The union leader also stressed that in districts of the capital such as San Martín de Porres, San Juan de Lurigancho, Independencia and other peripheral areas, financial advisors are being obliged to pay quotas to avoid the theft of their work tools, such as cell phones and Motorcycles
As a consequence of these extortion, robberies and assaults on agencies, municipal boxes and other microfinance system entities face an increase in their operational costs, particularly safety.
“From the FEPCMAC we are not afraid to denounce these situations. We raise the voice in support of thousands of clients and in defense of our financial system, which is being threatened by crime, ”said Solís.
Informal credit
Solís also pointed out the growth of informal credit as another factor related to the insecurity that affects the country. According to the representative of the FEPCMAC, the suppliers of these informal credits such as the ‘drop by drop’ overendead small businesses by granting financing without carrying out previous evaluations.
This practice is affecting formal entities, since, by ignoring the debts acquired by their clients with informal lenders, they end up granting additional credits that are then difficult to recover. In addition, they face the unfair competition of extortion collection methods.
“Today, the ‘drop by drop’ and other informal loans managed through exchange houses represent a portfolio that could reach S/2,000 million,” said Solís.
The union leader stressed that the growth of informal credit is one of the factors behind the fall of approximately 2.5% in the loans to the small and microenterprise last year, in addition to the increase in the levels of non -compliance in a context of economic recovery.
“I raise my voice through the country’s entrepreneurs. Informal credits are suffocating the microfinance system. Today, many merchants prefer to close their businesses rather than continue paying quotas, ”he said after urging Congress to eliminate the limits of interest rates.
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