Samurdhi Banking Associations will be online within this year

Asian Tribune: Sri Lanka Bureau

Colombo, 16 September, (Asiantribune.com): Thirteen year old Sri Lanka’s poor masses banking association Samurdhi Banking Association plans to link its rural banking associations effective from 18th of this month.

Minister Jagath Pushphakumara said these banking associations would be interlinked within short period. The Asian Development bank has come forward to provide funds to develop this interlink system.

Speaking to media, Minister Pushphakumara said around 106 banking associations are there in three districts and would be linked and be online during this year.

At present Samurdhi Authority of Sri Lanka manages 1042 Samurdhi Banking Associations.

The Minister said the Samurdhi Banking Associations could minimize waste and he added that these associations earned a handsome profit during last year.

- Asian Tribune -