Oct 28, 2020, 14:08:49

Sri Lanka to introduce new credit system

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Sri Lanka to introduce new credit system, Banks advised on CRIB.

State Minister Shehan Semasinghe announced in Parliament the Prime Minister had instructed to introduce a new evaluation system as the general public have raised concerns over their name being included in the CRIB when seeking a financial facility.

Semasinghe is the State Minister of Samurdhi, Household Economy, Micro Finance, Self Employment, Business Development and Underutilized State Resources Development, and he said the Government will also introduce a new credit system for the country.

He said banks have been instructed not to simply refuse granting a loan to anyone just because a person’s name is included in the CRIB.

“Being included in the CRIB should not be an obstacle for anyone to seek a financial facility,” said the state minister on Wednesday (23).

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