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‘Half of population in CRIB; Moving away from bankruptcy is a dream’

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Credit Information Bureau of Sri Lanka General Manager Pushpike Jayasundera has told the media that more than half of the population in Sri Lanka have been recorded in the Credit Information Bureau (CRIB) and therefore, they cannot get a loan from a recognized financial institution.

Mr. Jayasundera also said that the reason for this is the lack of knowledge about debt management of Sri Lankans compared to other countries in the South Asian region.

He pointed out that although many people have paid their loans and lease installments properly, some financial companies have not updated the information.

In order to correct this situation, Sri Lanka Credit Information Bureau has taken many steps to educate the people about debt management.

The General Manager said that any person has been provided the facility to obtain their credit information report through the website http://www.crib.lk without going to a financial institution.

Meanwhile, economic experts pointed out that although the CRIB is a tool to protect the credit and banking system, it has posed a great challenge to the country when moving away from bankruptcy.

CRIB information has especially affected the growth of informal transactions in Sri Lanka.

Since a person who has their information recorded at CRIB is unable to get a loan from the banking system, they resort to alternative investments methods eventually even destroying their business.

They pointed out that it also leads to an increase in suicides.

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Liquor stores closed on election day

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Liquor stores islandwide will be closed on Tuesday, May 06 in view of the Local Government elections.

Excise Chief U.L. Udaya Kumara announced that retail liquor outlets will remain closed during the period between Monday, May 05 closing time to opening time on Wednesday, May 07.

However, this ruling is exempted for in-house guests of all Tourist Board approved hotels and boutique villas.

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Police to look into threats faced by 2 journos

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Police are investigating alleged underworld threats faced by two well known journalists, reports say.

Complaints have been made that senior journalist Chamuditha Samarawickrama, who hosts Hiru Channel programs and runs the YouTube channel ‘Talk with Chamuditha’ is facing threats from the notorious “Dehi Bale’s” group while M. Chamika, who of the “Neth FM Balumgala” programme is facing threats from underworld kingpin – Kanjipani Imran.

Following complaints made to the Ministries of Defence and Public Security, an investigation has been initiated on the instructions of the Acting IGP – SDIG Priyantha Weerasuriya.

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Campaigning for LG polls ends tonight

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Campaigning for the local government elections will conclude at midnight tonight (May 03), as per Election Commission’s directives that all campaigning must end 48 hours before the polls.

The elections are scheduled to be held on May 06.

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