News
Microfinance and Credit Regulatory Authority Bill: TISL files petition in SC
Transparency International Sri Lanka (TISL) last week petitioned the Supreme Court, challenging the ‘Microfinance and Credit Regulatory Authority Bill’. It has artgued that the Bill fails to address or introduce a fit scheme sufficiently to enable the regulation of the extortive and predatory practices that microfinance lenders engage in at the grassroots levels.
The Bill was on the Order Paper of Parliament on 9 January, 2024. TISL has argued in the Petition (SC SD 14/2024) that the Bill does not conform to the principles of reasonableness, proportionality, natural justice, separation of powers and legal certainty as required, and is thus violative of Article 83 of the Constitution as read with Article 3 and 4 of the Constitution.
The extortive and predatory practices faced by victimized customers/borrowers of microfinance schemes, among others include, sextortion/soliciting of sexual bribes, physical, mental, and emotional harassment and intimidation, and the application of extortive interest rates in the granting of loans.
The Petition states that the Bill fails to adequately regulate all entities that engage in microfinance activities in a manner that would address the pervasive issues that have adversely plagued the sector.
The Petition points out that the Bill excludes certain entities that dominate the microfinance industry, such as licensed commercial banks or licensed specialised banks, licensed finance companies, registered leasing establishments, etc.
TISL has further noted in the Petition that the provisions in the Bill grant undue sole discretion to the subject Minister by allowing the Minister to specify persons who may carry out moneylending without a license from the Microfinance and Credit Authority, and grant exemptions to a class or category of transactions.
It further states that Clause 65 of the Bill attempts to create an information-concealing regime that is in complete violation of Article 14A of the Constitution from which the Right to Information Act No. 12 of 2016 flows.Therefore, the Petition requests the Supreme Court to determine that the Bill, as a whole or in part, is inconsistent with the Constitution.
News
SLNS Sindurala arrives in Visakhapatnam for SLINEX 2026
Sri Lanka Naval Ship (SLNS) Sindurala arrived at the port of Visakhapatnam in India on 17 September 2026, to participate in the bilateral naval exercise ‘SLINEX – 2026’.
The Indian Navy formally welcomed the SLN vessel upon its arrival, adhering to naval traditions.
The joint exercise will take place on 20 and 21 September in the seas off the east coast of India. On 18 September, the Commanding Officer SLNS Sindurala, Captain Sunanda Appuhamy, held official discussions with Commander Suraj Aiyappa, Commanding Officer Indian Naval Ship (INS) Kavaratti, aboard both vessels.
The annual exercise aims to enhance cooperation, interoperability, and professional exchange between the two navies. During the exercise, crew members from SLNS Sindurala will also participate in several professional and cultural exchanges organized by the Indian Navy.
News
Advisory for strong winds and rough seas for Multi-day boats in the Bay of Bengal
Advisory for strong winds and rough seas for Multi-day boats in the Bay of Bengal deep sea areas
Issued by the Natural Hazards Early Warning Centre
Issued at 05.00 p.m. 18 September 2026, valid for the next 24 hours.
PLEASE BE AWARE!
The atmospheric disturbance to the North of the Andaman Islands in the Bay of Bengal, is likely to develop into a low pressure area within the next 24 hours.
Due to its influence, wind speed over the Bay of Bengal sea areas will increase during the next few days starting from
tomorrow (19th).
The wind speed in the sea areas marked under the “Advisory” category on the map below will increase to 55-65 kmph at times and those sea areas will be rough or very rough at times.
Navel and fishing communities engaging the activities over this sea area are advised to be vigilant and be attentive to the future forecasts and bulletins issued by the department of Meteorology in this regards.
News
Some NPP manifesto promises may be difficult to fulfil – CIABOC DG
Text and Pic by Priyan de Silva
Director General of the Commission to Investigate Allegations of Bribery and Corruption (CIABOC) Ranga Dissanayake has questioned whether some promises contained in the National People’s Power (NPP) manifesto, A Thriving Nation – A Beautiful Life, could be fulfilled even if the government wanted to implement them.
Dissanayake raised the issue during a discussion following the release of the third biannual report on manifesto monitoring by the March 12 Movement, at the BMICH, on Wednesday.
He questioned whether the report had taken into account legal and institutional constraints affecting the implementation of certain pledges.
Citing the proposal to establish Anti-Corruption Investigation Offices in each district, Dissanayake said such offices could be established only with the agreement of CIABOC and that amendments to the Anti-Corruption Act would be necessary.
He also referred to the pledge to abolish the Executive Presidency, noting that successive governments had made similar commitments since 1994. He questioned whether there had been adequate consideration of where the powers vested in the Executive President would be transferred if the system were abolished.
On the proposal to establish a Public Prosecutor, Dissanayake questioned whether the Government intended to maintain the office alongside the Attorney General, who currently performs prosecution-related functions.
Executive Director of the Institute for Democratic Reforms and Electoral Studies (IRES) Manjula Gajanayake said Dissanayake’s remarks should be regarded as his personal views and not as Government policy.
Monitoring and Evaluation Consultants M. Thilakarajah and D.D. Mataharaarachchi presented the third-phase findings, covering January to June 2026.
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