Category: Banking and Finance
‘s FCID is politically biased: Gammanpila; Police denies
May 07, 2015 (LBO) – Sri Lanka’s Police Financial Crimes Investigation Division is a mere political tool that certain politicians get hammered, provincial councilor Udaya Gammanpila said.Gammanpila, the General Secretary of Pivithuru Hela Urumaya, told reporters Thursday that the newly established division is politically biased. “There is nothing in the world history; choosing complaints to […]
Sri Lanka’s President Sirisena said special attention should be paid for educational reforms
May 07, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena says that special attention should be paid to the reforms to be done in the education sector taking into account today’s commercialized society. He was quoted in a statement saying that separating schools as Sinhala, Tamil and Muslim is not suitable in the current social […]
Sri Lanka’s fiscal deficit target for 2015 highly unachievable: IMF
May 6, 2015(LBO) – Sri Lanka’s 2015 deficit target will likely be very difficult to reach even with relatively optimistic assumptions regarding revenue gains, International Monetary Fund said in a statement.“The fiscal deficit is a key concern for 2015 and the medium-term,” International Monetary Fund said. “Further, in the absence of new measures to create […]
Sri Lanka tax revenue up 24-pct in first quarter 2015: Finance Minister
Apr 25, 2015 (LBO) – Sri Lanka’s tax revenue has increased 23.8 percent in the first three months of this year against the same period last year, Finance Minister Ravi Karunanayake said. “The Inland Revenue Department has performed a significant task to increase the tax income.The people are convinced today that tax money does not […]
‘s National Development Bank gets new chairman
Apr 21, 2015 (LBO) – Sri Lanka’s National Development Bank, an investment bank has appointed a new chairman after its former chairman stepped down indicating a personal wish, the bank said in a stock exchange filing.The board of directors of NDB at a meeting held on Monday decided to appoint N.G Wickremeratne as the new […]
Sri Lanka’s NDB and DFCC merger not to be forced; it’s a shareholder decision: Dinesh Weerakkody
Apr 16, 2015 (LBO) – Sri Lanka’s National Development Bank (NDB) and DFCC Bank merger should not be forced, Dinesh Weerakkody, Chairman of a Committee investigating banking sector consolidation told LBO.“We were very clear about the NDB – DFCC merger in our report that was handed to the Prime Minister.This should be decided by the […]
Sri Lanka’s BOC GM on leave, not suspended: Chairman
Apr 09, 2015 (LBO) – Sri Lanka’s state owned Bank of Ceylon says that its General Manager, D M Gunasekara is on leave pending a special audit by internal and external auditors.“We felt it was appropriate to place the General Manager, Mr. D M Gunasekara, on leave, until investigations are completed such that the conduct […]
Sri Lanka’s BOC appoints acting GM following suspension of D.M.Gunasekera
Apr 07, 2015 (LBO) – Sri Lanka’s state owned Bank of Ceylon has appointed P.J. Jayasinghe, the Deputy General Manager, support services of the bank as an Acting General Manager,bank sources revealed.A source said that Jayasinghe reported to work in his new capacity today.The appointment followed the suspension of the bank’s General Manager, D.M.Gunasekera. The […]
”” rating:Fitch
Apr 02, 2015 (LBO) – Sri Lanka’s Amana Bank PLC’s has been rated at ‘BB(lka), National Long-Term Rating ‘ with a Stable Outlook, Fitch rating said. KEY RATING DRIVERS Amana’s rating reflects its small and developing domestic franchise, and limited track record. The bank started operations in 2011 as a Sharia-compliant bank and accounted for […]
Sri Lanka’s NDB-DFCC merger awaiting new regime’s go ahead
Mar 27, 2015 (LBO) – Sri Lanka’s National Development Bank (NDB) and DFCC Bank says that they are still awaiting a decision from a committee appointed by the new government who are investigating all the consolidations which were done and pending under the previous regime. “We have made our submissions and as of today NDB […]
‘s micro-finance sector to access CRIB through a new regulation
Mar 27, 2015 (LBO) – Sri Lanka’s micro-finance industry is looking at developing a separate credit information database for their clientele with the help of the Credit Information Bureau (CRIB) of Sri Lanka. Yasitha Munasinghe, manager, Lanka Micro-finance Practitioners association (LMFPA) told LBO that the proposed micro-finance act will provide the necessary legality to be […]
Sri Lanka’s new Inland Revenue chief to strengthen staff capacity with more training
Mar 24, 2014 (LBO) – Sri Lanka’s Inland Revenue department says they intend to strengthen the capacity of the department’s staff by educating and providing further training for them.“I want to ensure that the employees of the whole department are strengthened and made more capable through education, training and further qualifications. This will allow them […]