Sri Lanka to amend microfinance act - state minister

COLOMBO (News1st): Sri Lanka's microfinance act would be amended to suit modern developments, state minister Shehan Semasinghe said on Tuesday. "...the relevant state authorities and other stakeholders are not displaying a favourable approach on this," the state microfinance minister told reporters. He noted that talks have been held with the finance secretary over the problems concerning the country's microfinance system. "We are also set to hold discussions with the central bank and registered micro-finance lending institutions," Semasinghe said during a media briefing He pointed out that a mechanism has been established through the Samurdhi department to collect information from the Anuradhapura District on microfinance.