New Rules to Regulate Microfinance Institutions

December 05, 2023 - 11:40 AM
Mr. Wijayadasa Rajapaksa, Minister of Justice, Prisons and Constitutional Reforms, said that a new bill will be presented to Parliament to regulate the micro-finance institutions operating in the country.

The minister said this while attending the news conference held at the Presidential Media Center yesterday (04).

The minister pointed out that certain micro-finance institutions have become a cancer to the country, and necessary steps should be taken to regulate those institutions by establishing a separate institution, not through the central bank.

The minister also said that eight new bills are to be submitted to the parliament to further strengthen and make the judicial process more efficient.