Home Front: Should maids be banned from borrowing money?

Big jump in foreigners taking out licensed loans, but stiffer measures may see them turn to loan sharks - and do not address underlying causes

Despite measures put in place last year to rein in the growing number of foreigners taking out licensed loans in Singapore, the numbers have continued to climb.

Last month, the Ministry of Law enacted additional legislation to tackle the supply of loans made to foreign borrowers, with the ministry saying it would monitor the situation and that it is prepared to, if necessary, consider a complete ban on lending to foreigners.

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A version of this article appeared in the print edition of The Straits Times on August 15, 2019, with the headline 'Should maids be banned from borrowing money?'. Print Edition | Subscribe