The economic authorities are investigating an online-based financial institution that had been slugging clients with interest and costs totalling 15 per cent per month – more than five times just exactly just what microfinance organizations and pawn stores are permitted to charge.
By NAW BETTY HAN | FRONTIER
IN BELATED December 2019, Ma Tin Zar received a telephone call from a microlender, MicroMoney Myanmar, asking her to pay for an overdue loan.
A few months earlier in the day, a buddy had introduced her to MicroMoney’s mobile application through which she quickly and simply arranged financing. [Read more…]