Category: Banking and Finance

Lot’s of very small businesses around the coast were washed away by the tsunami also exposing a major weakness in the micro enterprise financing structure locally.Lot’s of very small businesses around the coast were washed away by the tsunami also exposing a major weakness in the micro enterprise financing structure locally. Experts say there were […]

Hatton National Bank’s has selected Deutsche Bank as the custodian for its Global Depository Receipts (GDR) issue.Hatton National Bank’s has selected Deutsche Bank as the custodian for its Global Depository Receipts (GDR) issue. A statement is expected from HNB later today. Akbar Poonawala, Head of Global Equity Services at Deutsche Bank was quoted in BusinessWire […]

Life insurance provider Ceylinco Life has equipped its field agents with mobile access to its databases, to speed up their liaising with clients.Life insurance provider Ceylinco Life has equipped its field agents with mobile access to its databases, to speed up their liaising with clients. The Rs. 25 million project has equipped some 140 agents […]

The CFA Institute – the global association which offers the Chartered Financial Analyst (CFA) qualification filed a lawsuit in the Commercial High Court of Sri Lanka this week against ICFAI Education Lanka.The CFA Institute – the global association which offers the Chartered Financial Analyst (CFA) qualification filed a lawsuit in the Commercial High Court of […]

Sri Lanka opted to hike its key short term rates by 50 basis points, taking the repo rate up to 8.25 percent. Sri Lanka opted to hike its key short term rates by 50 basis points, taking the repo rate up to 8.25 percent. The monetary board pushed up the repo rate, at which the […]

Sri Lanka opted to hike its key short term rates by 50 basis points to contain further increases in credit to the public and private sectors.Sri Lanka opted to hike its key short term rates by 50 basis points to contain further increases in credit to the public and private sectors. The Central Bank on […]

Sri Lanka’s micro finance institutions are looking at securitising their lending portfolio as low cost credit lines are drying up.Sri Lanka’s micro finance institutions are looking at securitising their lending portfolio as low cost credit lines are drying up. Sarvodaya, an indigenous non-governmental organization, is leading the way, with plans to raise Rs.100 million by […]

Sri Lanka’s central bank may have little choice but to do nothing on monetary policy in the next few months even as the economy, still reeling from last year’s tsunami and political turmoil, seeks a boost from lower interest rates. Sri Lanka’s central bank may have little choice but to do nothing on monetary policy […]

Sri Lanka’s Hatton National Bank (HNB) plans to securitise part of its micro finance portfolio to expand its low cost credit schemes. Sri Lanka’s Hatton National Bank (HNB) plans to securitise part of its micro finance portfolio to expand its low cost credit schemes. HNB’s micro finance portfolio stands at around Rs. 4 billion at […]

Tax changes proposed by the last budget got the legislative stamp recently but experts speaking at a forum said the tax system is now even more complicated.Tax changes proposed by the last budget got the legislative stamp recently but experts speaking at a forum said the tax system is now even more complicated. The government […]

Tax changes proposed by the last budget got the legislative stamp recently but experts speaking at a forum said the tax system is now even more complicated.Tax changes proposed by the last budget got the legislative stamp recently but experts speaking at a forum said the tax system is now even more complicated. The government […]

Sri Lanka’s labour ministry says the government is introducing a loan scheme to give subsidised housing loans, to beneficiaries of a state managed retirement fund, using money taken from the fund at rock bottom rates.Sri Lanka’s labour ministry says the government is introducing a loan scheme to give subsidised housing loans, to beneficiaries of a […]