Sri Lanka cabinet approves capital market strategy 2016-2020

Oct 27, 2016 (LBO) – Sri Lanka’s cabinet has given the nod for the government to follow a five-year capital market strategy in order to attract investors, issuers, institutions and mediators, a statement said.

“Although the capital market plays a major role in economic development and sustainable development in rising economies in the world Sri Lanka has not used its potential,” a statement on approved cabinet decisions said.

“Hence, the capital market of Sri Lanka should be converted into an efficient and interesting place for share issuers, investors, institutions, and mediators.”

The proposal was put forward by the Prime Minister Ranil Wickremesinghe to follow the Capital Market Strategy 2016-2020 that proposes regulatory and development actions to be followed in future.

A 250 million dollar loan from the Asian Development Bank in two tranches would be utilized for this purpose, a media report said.