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Monday, 23 July 2018 - 12:16
Interest on microfinance loans to be restricted to 30%
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Finance Minister Mangala Samaraweera says steps will be taken to bring down the interest on loans of microfinance companies to 30%.
 
The Minister said that at present, the interest on loans given by microfinance companies is around 40% to 220%.
 
Speaking at an event in Jaffna, the Minister pointed out that certain microfinance firms disburse loans at exorbitant interests and because of that many people in the North and East are facing huge economic difficulties.
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