Pawning advances given by Banks and Financial institutions increased only by Rs.27 billion to Rs.237 billon in the first nine months to September 2020, State Minister for Finance Ajith Nivard Cabraal stated in parliament today (12).
The State Minister was responding to a statement made by SJB MP Kabir Hashim, who asserted that pawning loans had risen to Rs.643 billion this year.
State Minister Cabraal; “The Central Bank of Sri Lanka (CBSL) clearly stated that, by end of December 2019 Pawning loans given by banks and financial institutions was Rs.210 million and by the end of September 2020 this has increased to Rs.237 billion. Hence, only Rs.27 billion have increased.”
Source From biz.adaderana
Author: Isma Izzath
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