Category: Banking and Finance

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 […]

The Inland Revenue says it is due around Rs 24 billion as back taxes from indirect taxes like GST, VAT, Turnover Tax and the National Security Levy (NSL).The Inland Revenue says it is due around Rs 24 billion as back taxes from indirect taxes like GST, VAT, Turnover Tax and the National Security Levy (NSL). […]

Sri Lanka’s DFCC Bank is in line to pick up over US$ 250 million worth of concessionary funding lines this year, as it looks for ways to expand its loan book, a senior official said. Sri Lanka’s DFCC Bank is in line to pick up over US$ 250 million worth of concessionary funding lines this […]

Sri Lanka has picked up a US$ 94.5 million soft loan from Japan to restore livelihoods in areas affected by last year’s tsunami, officials said Wednesday.Sri Lanka has picked up a US$ 94.5 million soft loan from Japan to restore livelihoods in areas affected by last year’s tsunami, officials said Wednesday. The loan agreement which […]

The Customs Intelligence Unit is stepping up its surveillance to apprehend individuals and consortiums smuggling goods in and out of the island.The Customs Intelligence Unit is stepping up its surveillance to apprehend individuals and consortiums smuggling goods in and out of the island. Officials on Wednesday said the unit is now trying to entice more […]

The Inland Revenue is adding priority banking to its list of concessions to good taxpayers.The Inland Revenue is adding priority banking to its list of concessions to good taxpayers. Inland Revenue’s Deputy Commissioner H B Senevirathne said a number of banks have agreed to offer concession to good tax payers, including startup-charge free credit cards […]

A think tank said implementation will be the main challenge for the government now that donors have pledged the full tsunami reconstruction requirement. A think tank said implementation will be the main challenge for the government now that donors have pledged the full tsunami reconstruction requirement. The Institute of Policy Studies says transparency and accountability […]

Banking giant HNB will launch its payment gateway on May 25, the second Sri Lankan online credit card payment processing system after Sampath Bank. Banking giant HNB will launch its payment gateway on May 25, the second Sri Lankan online credit card payment processing system after Sampath Bank. Sri Lanka Insurance and mobile operator Celltel […]