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Pakistan which was ranked higher at 83, fell back from last year's 75, despite making a positive reform. Nepal fell to 116 from 111, Bhutan to 142 from 140 and Afghanistan 167 from 165.
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Though Sri Lanka passed a new secured transaction law in 2009, it had not yet been implemented, the Doing Business in 2011 report by the World Bank and the International Finance Corporation, its private sector financing arm said.
Sri Lanka got a favourable mention in the cultural practice of women owning gold, which had also got them easy access to credit and having credit information systems,
Sri Lanka was also mentioned as having separate commercial courts, but contract enforcement still took a long time the report said.
Sri Lanka was among the slowest countries taking about 1,318 days to enforce a contract compared to 150 days for Singapore and 225 for Bhutan. Bhutan was al