Hi there

I do agree with Datuk Kayveas with some of his point - The economy can be affected when banks and credit providers, such as finance firms, tighten credit facilities based on the records in Ctos.

May be you guys don't know that not only loan application cannot be approved if your name is in the CTOS list, it's sad to say that you can't even open a Current Account in any bank if your name is inside the CTOS list. What kinda theory is this ? People wanted to keep their money inside the bank also have to go through CTOS ??!? Since these people already have debts, they are already have difficulties in their life, but why the CTOS & the bank still put in more pressures on them ? Why can't just give them a small possibility opportunity to do some business and to recover and to settle their debts slowly? Why must pust them to the end side?

Furthermore how can those bank judge a person's finance status/reputation by just according a silly reference list from CTOS ? How true and how reliable the CTOS is ? If it's so reliable, there won't be so many complaints regarding their system is not updated & etc. From other bloggers stated that CTOS is making RM8 million per year of profit, is this true ? Why are they suppose to make profit ? The bank charge the loan applicant for the searchings and as a result the consumer has to bear the costs, and why we must pay these charges to the only 'private company'?

I agree that the economy can be affected when the banks and credit providers tighten the credit facilities for the applicant, that can make a poor person to become even poorer person. Our government officers keep on condemn and tries various way to stop Shark Loan, but why they still can't find out the reason why Malaysian wants to borrow money from shark loan ? I doubt that it's 100% all because of soccer bettings/gamble. Many should know that this will ended up with more and more security problems when the citizens has no money to pay. Besides, since it's known that 1/3 of the citizens is inside the CTOS list, why the bank and the related parties don't do something to loosen the citizen's problem ? Why the bank only concentrate on making profits and only care how many million they earn per year instead of helping the citizens such like offering a lower interest rate and longer return period for those people who owes or who needs money ? If the economy and security become even worse, I think there won't be any benefit to anyone of us..do you agree ?

For those who think that those blacklister are deserved, you should not think like that. I believe that they are just not matured enough to manage their financial stuff when they are young. They don't know how to plan what they should spend and what they shouldn't spend. Some of them they are greedy, but why they are greedy? Is it because they are not well taught in the school or not well educated by their parents for not to be greed? If so, that's not all of their fault..Some people RM100 is enough to spend for a week, but why some needs RM100 to spend for a day? Their thinking and living style already with them for years and years, you cant judge them with only one or two or three mistakes that they did before, they also need the opportunity to grow up and to climb up, but is this opportunity given? We should symphatise and help people who needs..For those people who condemn them as deserved, is it because their house used to be bigger than yours and their cars used to be luxury than yours ? Forget about it, if the country is rich, citizens's financial problem is OK too, you will never have any worries when walking on the street at any time, you don't have to fix so many CCTV at your home, you can travel with your 5 or 7 Series without any affairs. I know that to help is not that simple and easy, but at least try instead of criticise and make their life even difficult.

I had forgotten since started when till today I dislike to read the main section of the newspaper.

Just my 2 cents worth of view.

Good luck mate.

Regards

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Added on August 21, 2007, 9:21 pmSome views to add,

What's the purpose of having a Bank in our country? I believe that it's because of our govenment appoint them and expect them to provide reasonable services to the citizens to help them to a better living and to improve our country's economy. But now it seems like the bank having different goals and different opinion like what we and the government expect/hope.

They always come with full of silly services charges. We keep money inside the bank yet still have to pay services charges. We appoint third party to withdraw money yet have to pay unreasonable service charges. and I also heard that if we keep a quantity of money inside and the bank suddenly bankrupt, as a result we can't take back the full amount, is that true ?







This post has been edited by Hakkinen: Aug 21 2007, 09:21 PM