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Sri Lanka’s new Finance Minister says won’t allow artificial devaluation, high interest rates
yellow knife- Top contributor
- Posts : 6980
Join date : 2014-03-27
- Post n°26
Re: Sri Lanka’s new Finance Minister says won’t allow artificial devaluation, high interest rates
by yellow knife Tue Sep 15, 2015 7:28 am
Backstage- Top contributor
- Posts : 3803
Join date : 2014-02-24
- Post n°27
Re: Sri Lanka’s new Finance Minister says won’t allow artificial devaluation, high interest rates
by Backstage Tue Sep 15, 2015 11:17 am
Agree with Future .
mymoney- Posts : 544
Join date : 2014-08-06
- Post n°28
Re: Sri Lanka’s new Finance Minister says won’t allow artificial devaluation, high interest rates
by mymoney Tue Sep 15, 2015 3:21 pm
http://sinhala.adaderana.lk/news/53859/%E0%B6%BB%E0%B7%80%E0%B7%93-%E0%B7%83%E0%B6%B8%E0%B6%9C-%E0%B6%91%E0%B6%9A%E0%B7%8A%E0%B7%80-%E0%B6%9C%E0%B6%B8%E0%B6%B1%E0%B6%9A%E0%B7%8A-%E0%B6%BA%E0%B6%B1%E0%B7%80%E0%B7%8F
pathfinder- Top contributor
- Posts : 1450
Join date : 2014-02-23
- Post n°29
Re: Sri Lanka’s new Finance Minister says won’t allow artificial devaluation, high interest rates
by pathfinder Tue Sep 15, 2015 7:05 pm
Future123 wrote:kass wrote:From tomorrow onward finance companies and banks are not allowed to provide full leases or 100% loans for vehicle purchasing. Maximum debt component has been 70% as CBSL detective issued today.
Where did you see this news? I thought all the finance companies don't provide 100% lease. If they do so, the risk is too high. For property mortgages banks usually ask for over 20% deposit.
This is a good thing for the country and for finance companies. The vehicle sales are at record levels and the government has to control the foreign outflow in someway and keep the exchange rate under control.
I think responsible finance companies may already insist customers for a deposit or downpayment. Can't believe getting 100% credit. Anyway, this reduces the chance of a credit buble, bad loans and rupee depreciation.
Every coin has two sides
kass- Top contributor
- Posts : 470
Join date : 2014-02-27
- Post n°30
Re: Sri Lanka’s new Finance Minister says won’t allow artificial devaluation, high interest rates
by kass Tue Sep 15, 2015 10:08 pm
Future123 wrote:kass wrote:From tomorrow onward finance companies and banks are not allowed to provide full leases or 100% loans for vehicle purchasing. Maximum debt component has been 70% as CBSL detective issued today.
Where did you see this news? I thought all the finance companies don't provide 100% lease. If they do so, the risk is too high. For property mortgages banks usually ask for over 20% deposit.
This is a good thing for the country and for finance companies. The vehicle sales are at record levels and the government has to control the foreign outflow in someway and keep the exchange rate under control.
I think responsible finance companies may already insist customers for a deposit or downpayment. Can't believe getting 100% credit. Anyway, this reduces the chance of a credit buble, bad loans and rupee depreciation.
Due to stiff competitions most of the finance companies tend to give leases with no client contributions, also some offer facilities with out personal guarantees. This is a good move for the long term, which will help the sector to grow a quality portfolio. However due to this sudden change people who were planning to have 100% leases may face issues in finding the balance 30%
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