While it becomes impossible for the farmer to produce with this interest burden, the changing interest rate is not notified to the farmer. Farmers who do not know what percentage interest rate they use in Agricultural Credit will be subject to enforcement action in the near future due to high interest rates.
After the Central Bank increased the policy interest rate to 40 percent, agricultural loan interest rates in farmer organizations, Agricultural Credit Cooperatives, were also increased to 58 percent.
While the interest rates are based on 60 percent, the high interest rates are hidden from the farmers. While a circular was previously sent from the Central Union to inform the cooperatives when interest rates changed, currently no circular has been sent and interest rates have started to be entered directly from the centre.
While even cooperative employees do not know the interest rates, the farmer will be informed about the interest rate of the loan he used when he goes to pay his loan debt.
While Ziraat Bank provides agricultural loans to farmers with 19 percent interest, the increase in interest rates in Agricultural Credit Cooperatives to 58 percent reveals the disaster experienced for farmers.
MİLLİ GAZETE REVEALED THE INTEREST RECEPTION IN 2018!
In Agricultural Credit Cooperatives, in addition to the existing agricultural loan interest, a separate interest is charged from the farmers under the name of resource use fee. While the interest charged under the name of resource usage fee is unobtrusive when interest rates are low, it deals a big blow to farmers when interest rates rise.
Milli Gazete revealed the problem of high interest charged from farmers under the name of resource use fee in 2018 and called on the authorities to eliminate the injustice here.
The second interest received from farmers under the name of resource usage fee arises from the financing used by Agricultural Credit Cooperatives from Ziraat Bank at a commercial interest rate. Agricultural Credit Cooperatives, which obtain financing from Ziraat Bank at a commercial interest rate, are forced to provide agricultural loans to their partners at a commercial interest rate.
CRIMINAL COMPLAINT AGAINST MİLLİ GAZETE FOR EXPOSING ILLEGAL INTEREST!
Financing of Agricultural Credit Cooperatives at Ziraat Bank with commercial interest rates started when Hüseyin Aydın was the general manager of the bank. Hüseyin Aydın provided financing to Agricultural Credit Cooperatives at a commercial interest rate, citing the fact that Agricultural Credit Cooperatives are not farmers' organizations.
While a second interest scandal taken from farmers under the name of resource usage fee revealed how farmers were robbed with high interest, it was noteworthy that Hüseyin Aydın filed a criminal complaint against Milli Gazete to the prosecutor's office for revealing this scandal instead of solving this problem when he was the general manager of the bank.
HÜSEYİN AYDIN HAS BEEN THE GENERAL MANAGER AT COOPERATIVES FOR TWO YEARS
Hüseyin Aydın, who claimed that Agricultural Credit Cooperatives were not farmers' organizations when he was the General Manager of the Bank and filed a criminal complaint against Milli Gazete to the prosecutor's office for illegal interest news, learned that the institution he worked for was Turkey's largest farmer organization after he became the General Manager of Agricultural Credit. In his speeches, he started to emphasize that Tarım Kredi is the most important farmer organization in Turkey.
INTEREST ROBBERY STILL CONTINUES!
Although Hüseyin Aydın learned that Agricultural Credit Cooperatives were farmers' organizations after becoming the general manager, it is noteworthy that the practice of borrowing at commercial interest rates, which he initiated during his time as the bank's general manager, still continues.
While the fact that the farmer, who used Agricultural Credit from Ziraat Bank with 19 percent interest, used it with 58 percent interest from Agricultural Credit Cooperatives reveals the profiteering experienced, it is also significant that the management of the Agricultural Credit Cooperative has not done any work to eliminate the interest profiteering.