Embassy of India in Bahrain Issues Warning Against Unlicensed Loan Providers
TDT | Manama
Email: mail@newsofbahrain.com
The Embassy of India in Bahrain has issued a public advisory to the Indian community regarding illegal lending practices in the Kingdom. It has come to the attention of the embassy that a group of workers in Bahrain are engaging in lending activities, providing loans with excessive interest rates to individuals of the same nationality.
The embassy further stated that these lenders are believed to be using illicit funds generated from criminal activities, with the lending operations potentially involving money laundering schemes.
In light of these concerns, the Embassy of India in Bahrain has urged community members to avoid borrowing from sources outside licensed financial institutions. The embassy emphasized that such unauthorized lending could expose individuals to legal consequences.
Indian nationals are advised to exercise caution and ensure that any financial transactions are conducted through legitimate channels to prevent becoming involved in illegal activities.
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