By Christopher Lloyd T. Caliwan (philstar.com), January 10, 2017
MANILA, Philippines (Philippines News Agency) — Justice Secretary Vitaliano Aguirre II on Tuesday said that persons especially Indians engaged in the lending business more commonly known as “5-6” would be arrested even without a warrant of arrest.
In a press briefing, Aguirre said the interest in the “5-6” lending activity is legal after the repeal of the Usury Law and the removal of interest ceilings.
But the Department of Justice secretary said operating a lending business requires a permit and other requirements.
“Pinapahuli ni presidente mga bumbay (Indians) na nagpapa 5-6, kawawa [naman ang] mahihirap [sa] 20 percent na taas [ng interest]. They could be arrested without any warrant. When they’re doing that they’re committing a crime,” he told reporters.
The government will push for the implementation of the nationwide micro lending program to address the “5-6” loaning business.
Earlier, President Rodrigo Duterte said the “5-6” scheme has become a burden to Filipinos, especially for those who have no other resort.
Many micro, small and medium enterprises usually resort to “5-6” lenders who are usually Indians.
The president said Filipinos had been experiencing such conditions but it had not been noticed for a long time.
June 2025
Philippine Environment Month!
“Action for Nature, for the Future!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos
Monthly Observances:
1 Jun – World Day of Parents
5 Jun – World Environment Day
7 Jun – World Food Safety Day
8 Jun – World Oceans Day
12 Jun – World Day Against
Child Labour
15 Jun – World Elder Abuse Awareness Day
16 Jun – International Day of Family Remittances
17 Jun – World Day to Combat Desertification and Drought
20 Jun – World Refugee Day
25 Jun – Day of the Seafarer
27 Jun – Micro-, Small and Medium-sized Enterprises Day
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
