Loan Sharks

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Loan Sharks - The Long Arm of the "AH LONG"

The true definition of a loan shark is a person or body that offers unsecured loans at high interest rates to individuals, often enforcing repayment by blackmail or via threats of violence even to those not directly involved such as family members and friends.

It is a well-known fact that sharks are predatory creatures. Recent studies have shown that they are instinct-driven predators that possess powerful problem-solving and social skills. These qualities perfectly describe the common and rampant loan sharks that operate all over Malaysia.

The true definition of a loan shark is a person or body that offers unsecured loans at high interest rates to individuals, often enforcing repayment by blackmail or via threats of violence, even to those not directly involved such as family members and friends. In recent times, loan sharks have been proved to be associated with the criminal underworld, especially in South East Asia. The reason for this is related to the ease with which they offer loans, contrary to the hassle of the complicated procedures and red tapes associated with the banking industry. This is why loan sharking has flourished and continues to do so despite government intervention in a developing country like Malaysia. Loan sharks are popularly known as Ah Longs here.

The procedure for acquiring loans through such predatory lenders in Malaysia is quite simple. Money is offered by the Ah Long at an extremely high interest rate to the borrower. One of the highest rates of interest was 120 percent monthly on the loan fee. There have been cases where the interest is charged by these callous predators on a daily basis. Often parties sign a simple document similar to an IOU and sometimes a close family member or friend serves as a bond to complete the transaction.




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Finally a magazine for senior citizens has come to the newsstand for the public to read. There are many reading materials published for children, teenagers, men and women and now, it is time to publish one for our golden people.Although this magazine is meant for the senior citizens, the articles published are for the benefit of all. All are welcomed to associate, contribute, participate and comment. The magazine is packed with a lot of information on biographies of personalities, health, travel, technology, finance & law, lifestyle and aging forums & events.

Wisdom comes with age, likewise, senior citizens’ expertise, knowledge and advice are valuable assets to the younger generation. Aging is not only a seniority of calendar years but also an accumulation of wisdom. As we advance technologically, the humanitarian aspect of helping people should not be forgotten. Progression of arts and science is the acquisition and execution of knowledge and progression of age is the combination of forbearance, righteousness and sense control which produces wisdom. Age is not confined to numbers; aging is a biological process not a psychological one.

As James A. Garfield, the 20th President of the United States said, “If wrinkles must be written upon our brows, let them not be written upon the heart. The spirit should never grow old.” So long as your psyche is strong, you do not age.

Editor-in-Chief
Major Krishnan Nambiar (Retired)
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