From American Banker By TAMAR FRANKEL July 10, 2014 Many contributors helped bring about the most...
Money Lending Ordinance No. 2 of 1918
(amended through 1963)
Money Lending Ordinance No. 2 of 1918, amended by Act No. 9 of 1954 and Act No. 11 of 1963, provides for the regulation of money-lending transactions and prohibits the carrying on of money lending by certain persons in Sri Lanka. Certain restrictions in this ordinance (such as restrictions on obtaining offshore equity investment) apply to microfinance, as it is currently classified as a money lending business.