A meeting between the officials of the Central Bank of Sri Lanka, including CBSL Governor Professor W.D Lakshman and the Rural Development Societies (RDS), Women's RDS, Agriculture Societies, Fisheries Societies, Cooperatives Societies, and other societies in the Jaffna District, was held at the District Secretariat of Jaffna yesterday.
The Deputy Chairperson of Committees and Co-Chairperson of the District Coordinating Committee of Jaffna Angajan Ramanathan placed emphasis on the importance of placing regulatory mechanisms in place to regulate the informal financial institutions, especially with regard to the recovery of such debts, as and when they fall due.
The meeting was held to gain insight on issues encountered by the public in dealing with formal and informal financial institutions, including the micro-finance institutions and to look for participatory solutions for the issues.
Senior representatives from the Central and Provincial Government Administration, including the Government Agent of Jaffna K. Mahesan, Additional Government Agents, Director of Planning and Divisional Secretaries in Jaffna participated in the meeting.
(FT)