Personal debt relief pushed, forgiveness to be offered
Dec 22,2018
The government is going all out to ease the debt burdens on lower-income households as a part of its inclusive-finance policies, especially since the challenges faced by these households are expected to increase with the recent rise in the benchmark interest rate by the central bank.
On Friday, the Financial Services Commission (FSC) announced measures that will result in the forgiveness of debt of lower-income households if they demonstrate goodwill and continue to meet their obligations for a period of time. The FSC also said that various adjustments would be made so that people…
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