MANNAR- The Central Bank, to overcome an issue of land ownership in former conflict areas in the North and the East, is providing a guarantee through an affidavit to local banks to provide agricultural and other loans to residents who have land issues.
“We have realised that some people have issues about land ownership due to the conflict and we have stepped in to give a guarantee to banks for people to get loans, on the strength of an affidavit that they own the land,” said Central Bank Governor Ajith Nivard Cabraal speaking at the opening of a new branch of Seylan Bank in the Northwest town of Mannar on Monday.
Looking around at the premises located in a 200-year old house that had been transformed into a glittering bank office, Mr Cabraal said it was interesting to see how an old building has been restored to house this branch.
“It was a building in a state of disrepair. Seylan came and restored the building,” he told the audience adding “restoration has a deep meaning.”
He said that after the end of the war in May 2009, there is a need to rebuild the nation, rebuild communities. “We have encouraged the banking sector to come here in a robust manner and help people with their livelihoods. It’s important for people in the region to connect with people outside and good that this is happening through the banking system,” he said inside the building which stands opposite another old house with luscious Mannar mangoes waiting to be eaten!
He said only with credit flows will livelihoods happen. “Empowerment is the best form of reconciliation. And the best way for this is a deep economic commitment. Reconciliation doesn’t happen only with parliament, religious or social order. Economic empowerment is also important,” the Governor noted. |
E-mail
