RE: Problem today in Finland -- Is Mobile Banking Really Reducing Poverty?

I feel, this is nothing new.

Even in Finland before the mobile phones there were
money lenders which targeted "poor people". Easy to
borrow small amounts but with high interest. When the
pay day comes for the borrower, it is possible that
all the salary went to lender. So "poor person" takes a new
loan. They are in loop and hook.

Now this "lending business" is using mobile phones and the
loans are available 24 hours a day.

So the problem is not the Mobile phone. The problem is
the "education level" of the borrowers. Local authorities
in Finland are offering free service to these "borrowers"
to get them out of the loop.

If you are poor, you still need to eat. So in Finland we
have a "social welfare program". You can have aid from
local community to survive.

I don't know the current figures, but we have about
10-20% of the population who are below the "minimum wage"
level. So the persons who are above that pay taxes to
local community to enable them to give this "social aid"
to the poor people. 
 
Br. Lauri

>-----Original Message-----
>From: public-mw4d-request@w3.org 
>[mailto:public-mw4d-request@w3.org] On Behalf Of ext Janusz Lukasiak
>Sent: 04 November, 2008 03:03
>To: public-mw4d@w3.org
>Subject: Re: Problem today in Finland -- Is Mobile Banking 
>Really Reducing Poverty?
>
>
>On Tue, 4 Nov 2008 00:28:32 +0200, Lauri.K.Hirvonen wrote
>> I just want to share with you the latest phoneme here in Finland.
>
>> If you calculate the annual rate of this loan, it is 298 %
>This is called usury :-(
>
>> The problem is, that it is easy to get a loan. But for many the 
>> payback can be a challenge. Specially many young people are now in 
>> trap.t this
>Very true.  But this is a perfect illustration of how mobile 
>phones can be (mis)used to trap the unwary....
>Third (and First) World mobile users, beware...
>
>
>
>

Received on Tuesday, 4 November 2008 09:32:06 UTC