The head of the ROC called “speculation” and “miroestrol” the activities of organizations engaged in microcredit.
The Patriarch of Moscow and all Russia Kirill urged MPs to restrict the activities of organizations that provide microfinance services.
He stated that it was necessary “to put a legislative barrier to financial speculators of this kind.” In his opinion, is “absolutely immoral practice of usury and predatory its manifestation”. The Patriarch stressed that “it is such loans, loans are suffering from alcohol or drug addiction”.
“The families of these people subsequently faced with the need to pay huge, accrued for the year amounts, including through the sale of their property,” he said. Representatives of such business he called a “parasite”, Recalling that this word is called in pre-revolutionary Russia of people who “profited at the expense of the poor.”
The Patriarch also proposed to consider the creation of Russia’s banks for the poor. According to him, with the experience he obtained in India.
“Sometimes a man just needed $ 200 to start their own business. And here was a man, he comes from a poor family, who created the excellent system of banks for the poor — without those crazy interest, without having to enslave people. But sometimes these 200-300 dollars helped people start their own business. This initiative was highly appreciated by those with whom I had to discuss it”, — he concluded.
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