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<blockquote data-quote="tsomeone" data-source="post: 24660669" data-attributes="member: 410965"><p><span style="font-size: 12px">there is no law to prevent the operations of money lenders; he added pointing out that the only way to tackle online money lending was to create awareness on negative consequences in borrowing at high interest rates.</span></p><p><span style="font-size: 12px"></span></p><p><span style="font-size: 12px">He noted that Sri Lanka has a regulatory framework for banks, finance companies, rotating savings and credit associations, savings and credit cooperatives.</span></p><p><span style="font-size: 12px"></span></p><p><span style="font-size: 12px">But the money lenders, online or otherwise do not fall into the above categories and there was no regulatory framework in existence, he said.</span></p><p><span style="font-size: 12px"></span></p><p><a href="http://www.sundaytimes.lk/180415/business-times/public-financial-literacy-improves-to-tackle-online-loan-sharks-289777.html" target="_blank">Source</a></p><p></p><p>Anunge salli gattanam dena eka yuthukama,</p></blockquote><p></p>
[QUOTE="tsomeone, post: 24660669, member: 410965"] [SIZE="3"]there is no law to prevent the operations of money lenders; he added pointing out that the only way to tackle online money lending was to create awareness on negative consequences in borrowing at high interest rates. He noted that Sri Lanka has a regulatory framework for banks, finance companies, rotating savings and credit associations, savings and credit cooperatives. But the money lenders, online or otherwise do not fall into the above categories and there was no regulatory framework in existence, he said. [/SIZE] [URL="http://www.sundaytimes.lk/180415/business-times/public-financial-literacy-improves-to-tackle-online-loan-sharks-289777.html"]Source[/URL] Anunge salli gattanam dena eka yuthukama, [/QUOTE]
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