Former Deputy Leader of the United National Party (UNP) and Member of Parliament, Ravi Karunanayake, says that banks in Sri Lanka are currently unwilling to take on any level of risk.
In an interview with ceylonwire.lk, the MP emphasized the need to protect not only the country’s banking system but also small and medium-sized enterprises (SMEs), which play a vital role in driving the national economy.
He contrasted Sri Lanka’s approach with that of regional peers, noting that banks in countries such as Thailand, Indonesia, Vietnam, and Malaysia are more willing to extend credit to entrepreneurs—even in riskier situations—thereby supporting economic growth.
Karunanayake also announced his intention to submit a private member’s motion to Parliament, aimed at safeguarding entrepreneurs who are at risk of losing their assets due to unpaid bank loans.
