More than 200 women had committed suicide in the past three years after failing to repay loans obtained from microfinanciers, MP Gamini Waleboda told parliament yesterday (12).
“If this is the situation, is this the economy we claimed to have made?” he asked during a debate on microloans.
New act to regulate microfinance institutions
Meanwhile, justice minister Wijeyadasa Rajapakshe said the Central Bank had no control over microfinance institutions.
New laws should be introduced for their regulation, he said at a media briefing on 04 December.