Fuzzy Signals

The Central Bank will meet a consortium of investors keen on buying Pramuka Bank on Wednesday evening to shed more light to their complex proposal.
Hopes ran high on Tue. that the Central Bank had discussed a proposal put forward by a consortium at its Monetary Policy meeting.rn

rnCentral Bank Governor, W A Wijewardene said the bank has sought further clarifications from the consortium.rn

rnldblquote Nothing has been finalised, our officers will meet the consortium on Wednesday evening,
dblquote he said.rn

rnThe proposal mooted by NatWealth Corp., promised to pump in Rs. 500 mn to revive Pramuka and rename it as lquote Sathosa Bank. rn

rnThe consortium has sought a commercial banking licence, but asked for certain regulatory requirements to be waived off for an interim period.rn

rnIf approved, Pramukas new owners would include Asia Capital/Richard Peiris Group, and a few commercial banks including NSB. rn

rnAsia Capital/Richard Peiris team had pledged Rs. 250 mn, architect Surath Wickremas