♦ «Almost 4 million Romanians are part of the vulnerable categories that remain, most of the times, invisible to society» ♦ The Financial newspaper has spoken with a man on the verge of pension, who can find no other job. Florin Bâlcan, general director of Provident Financial Romania, spoke about the impact of capping interest on consumer loans, as well as the higher risks that an IFN assumes in relation to customers. «Interest ceiling is a good thing for our customers because accessibility increases, and people pay less. An IFN has the problem of financing costs because they cannot attract deposits such as banks, and the risk of lending is higher. At the same time, Provident has thousands of agents that go to every corner of the country. Last year, in November, Law 243/2024 entered into force, which plans the interest that an IFN can charge at 1% per day, on consumer loans, and the total amount to be repaid cannot exceed double the borrowed one. «The future of this industry is the digitalization and the extension of the services offered. On the site you can see very clearly the interest rate and you can easily understand its conditions. The digital lending has taken over in recent years. Provident wants to launch a credit card, similar to those offered by banks,» he continued. Provident presented the «Invisibles» statues on Tuesday in Obor Square, presenting the story of the people left behind by society. This program, launched in 2023, aims to help the vulnerable through scholarships or qualifying courses. About 1 in 4 Romanians know someone who works without declaring their income, and over 15% were paid «black», in full or partial, in the last year, a survey conducted by IFN shows. In the case of single -parent families, over a quarter of the respondents declare that they have been paid «black» in the last 12 months. «Almost 4 million Romanians are part of the vulnerable categories that remain, most of the times, invisible to the society. Through the Invisibles program, we want to offer them a voice and bring them to the forefront, where it is worth seeing and supported,» said Florin Bâlcan. NV spoke with a participant in the program «Invisibles», who told us his story. Originally from Bucharest, and now almost 60 years old, Cornel is a legal adviser and has over 20 years experience in the field. However, he has lost his job last year and, since then, is facing difficulties in finding another. «The ANOFM doesn't help you with anything, you just get a list of whole pages with open positions and send you to courses. But, I can't effectively hire you anywhere. This is up to you. Provident now offers me some human resources area, to put me in with the legislation in this field. Cornel is of the opinion that age is the main reason why he cannot find another job, because companies prefer to hire young people. «I am convinced that it is because of the age. I was in interviews and they told me that they are looking for another candidate profile. In the public administration, where there should be no problems in this area, there are other challenges. I ask you a file with many papers, and the bibliography is bushy. Pages of laws that must be learned, from the Romanian Constitution, and to the Romanian Constitution. Iulian Sîrbu, a vocational counselor at The Social Incubator Association, believes that age is indeed the main challenge for mature people who lose their jobs. «Age is a decisive criterion for many companies. If you are around the pension and you lose your job, you are, almost guaranteed, in a very precarious situation. In the partnership with Provident we try to support them through courses, to bring them as far as possible with the requirements of the labor market and we help them to make a CV. Reduced, ”concluded the expert.
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