Gov’t Moves to Spur Collateral-Free Loans

The Economy Ministry is apparently determined to compel banks to accept collateral-free microloan requests as it has set a deadline for state-owned lenders to submit a report to this effect. 
In a letter to the CEOs of 13 state-owned banks, the Economy Ministry has asked them to inform customers about collateral-free loans via bank branches and websites. Inspection departments of banks are tasked to visit branches at random to make sure that banks are in compliance, IBENA reported. 
The public information by banks must include the link to the Economy Ministry's website so that customers can tell the ministry if banks refuse their loan applications. Complaints by the people will be reviewed within two days and if found valid the manager(s) of the dissenting banks will be sacked.