In the Philippines, part of the culture is the borrowing of money from usurious lenders. This is not to smear Indians but most of those so called shylock lenders are Indian nationalities who are in our country and thriving with their micro lending business. The scheme is called 5-6 (five-six) to mean the interest rate which is 20%. So if you borrow 5,000 then you have to pay back 6,000 and that is clearly 20% in interest. However it is not just 20% because the payment is in daily installments of 100 pesos for 2 months. The effective interest rate may reach 32% as per rough computation. The president had recently issued a directive banning such usurious loans. Those lending money with the 5-6 scheme will be arrested. This will greatly affect the country’s economy because most small time businesses like street vendors depend on those Indians for their cash flow.