Umair Naeem Bajwa

The Dark Side of Microfinance: How Predatory Loan Apps are Ruining Lives

In July of 2023, a father of two in Rawalpindi, Pakistan, borrowed Rs. 13,000 to provide for his family. What followed was a nightmare. Exorbitant interest rates transformed his small loan into a crippling Rs. 700,000 debt. Ruthless lenders relentlessly harassed him and his family, even threatening his innocent brothers and sister. Driven to despair, he tragically took his own life. His story is a stark reminder of the devastating impact of predatory loan apps. Can we truly stand by while these apps continue to destroy lives and tear families apart?"