A gazette notification with regard to the relevant Bill to establish the Micro-Finance and Loan Regulation Authority, has been issued.

The gazette is issued on the directives of the Minister of Finance, Economic Stabilization and National Policies.

Last month, cabinet approval was granted to publish a draft law on Micro-Finance and Loan Regulation Authority and the Attorney general had cleared the draft bills for the Authority body.

An existing Micro-finance and Loan Regulation Act No. 6 of 2016 is to be repealed.

The Bill will be tabled before Parliament next week for its first reading.