Seylan Bank will be open for usual business with customers from December 30, it said.
State-run Bank of Ceylon had been appointed to carry on the business of bank and Bank of Ceylon had also been requested to appoint a new board of directors to the bank.
"The attention of the Monetary Board has been drawn to the recent events in the Ceylinco Group and the difficulties being encountered by Seylan Bank PLC with regard to deposit withdrawals and ensuing liquidity problems," the Central Bank said in a statement.
"The difficulties of Seylan Bank PLC presented a potential danger to the stability of the financial system."
The Ceylinco group has already announced that it was planning to sell out of the bank to repay depositors of Golden Key Credit Card Company, which ran into a liquidity crisis.
Officials say the sale of Seylan share