Fonds LK-NA/184 - Department of Credit Councils

The Department of Credit Councils was established on 1 st July, 1975, under the provisions of the Credit Councils Law No 23 of 1975.
The Credit Councils Law and Regulations in effect replaced the credit facilities extended to State Employees through the Advance Account and the Lady Lohore Fund. The objectives of the credit councils law as set out in section 6 were as follows; -
(a) To grant Loans to Members.
(b) To ensure that Loans granted are limited to actual bona fide requirements of the Members.
(c) To educate and assist members to live frugally and within their means.
(d) To assist in the implementation of such policies and programs connected with credit councils and their functions as may be determined by the Minister.
(e) To ensure the recovery of Loans granted
(f) To promote thrift and savings habits among members.
(g) To assist in the rehabilitation of indebted members.
This Department was abolished on 30the June, 1985