Oct 28, 2020, 14:08:49

Sri Lanka to introduce new credit system


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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