In response to an article in The Sunday Times FT last week titled ‘Lanka Orix launches innovative micro finance company’, the Central Bank has sent a letter to the newspaper saying, "As the contents of the article could convey the misleading impression that the LOLC Micro Finance Company Ltd has been registered by the Central Bank of Sri Lanka (CBSL), we wish to state that such a company had not been registered by the CBSL."
LOLC has also sent a letter saying, "We could be much obliged if you would correct this miscommunication which states that "LOLC Microfinance is the first-ever Central Bank approved microfinance company", as follows: "the company is the first-ever microfinance company with a foreign equity partner.”
Reporter’s note: The fact that this company had been approved by the Central Bank was stated by officials at the media briefing on October 28 regarding the new institution.
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