Sri Lanka, Jan. 12 -- Representatives of community-based financial societies have opposed the move to bring all microfinance and credit-providing institutions under a single regulatory authority through the enactment of the Microfinance and Credit Regulatory Authority Bill.

According to the representatives the proposal could also potentially impact the role and operations of community-based financial societies.

These views were expressed when the Sectoral Oversight Committee on Economic Development and International Relations sought the views of representatives of community-based financial societies regarding the proposed Microfinance and Credit Regulatory Authority Bill.

Discussion in this regard took place when the Committee met in P...