Category: Banking and Finance

Treasury Secretary Dr. P B Jayasundera Thursday said Sri Lanka was expecting some US$ 1.5 billion annually in donor commitments over the next three to five years.Treasury Secretary Dr. P B Jayasundera Thursday said Sri Lanka was expecting some US$ 1.5 billion annually in donor commitments over the next three to five years. The international […]

The Exchange Control Department of the Central Bank of Sri Lanka, has cautioned the public not to buy foreign exchange from moneychangers, a type of dealer who is only authorised to buy foreign exchange from the public. The Exchange Control Department of the Central Bank of Sri Lanka, has cautioned the public not to buy […]

Tech savvy Senkadagala Finance is coming out with savings products linked purely to teller machines, to mobilise low cost funds. Tech savvy Senkadagala Finance is coming out with savings products linked purely to teller machines, to mobilise low cost funds. The BBB+ (sri) rated company also plans to raise Rs. 250 million shortly through a […]

Sri Lanka has been urged to devise a new Poverty Reduction Strategy (PRS) with the World Bank following the donor meeting in May.Sri Lanka has been urged to devise a new Poverty Reduction Strategy (PRS) with the World Bank following the donor meeting in May. Crucial to this would be working out a joint mechanism […]

Sri Lanka’s tiny Rs. 17 bn insurance industry needs to ‘tighten up its act’ on regulation and solvency margins, after the recent tsunami left behind Rs.15 bn worth of claims, a research analyst warned.Sri Lanka’s tiny Rs. 17 bn insurance industry needs to ‘tighten up its act’ on regulation and solvency margins, after the recent […]

The government’s overdue subsidy payments for fuel and flour had snowballed to a massive Rs.15 billion in addition to the Rs.27 billion in short term debt that’s crippling the CEB.The government’s overdue subsidy payments for fuel and flour had snowballed to a massive Rs. 15 billion in addition to the Rs. 27 billion in short […]

Pan Asia Bank Corporation (PABC) hopes to increase its capital adequacy ratio through a Rights Issue early next year. Pan Asia Bank Corporation (PABC) hopes to increase its capital adequacy ratio through a Rights Issue early next year. The bank with capital to match 12 percent of risk weighted assets is keen to raise it […]

Workers’ remittances are a key source of foreign exchange for developing countries, at more than 100 billion dollars a year and expected to rise, but transaction costs remain high, experts and officials say.Workers’ remittances are a key source of foreign exchange for developing countries, at more than 100 billion dollars a year and expected to […]

Sri Lanka’s Central Bank on Friday raised the minimum capital requirement for commercial banks by 400 percent to promote a robust and stable financial system.Sri Lanka’s Central Bank on Friday raised the minimum capital requirement for commercial banks by 400 percent to promote a robust and stable financial system. Licensed commercial banks will have to […]

Sri Lanka’s warring parties are yet to agree on how to disburse millions of dollars in foreign aid for tsunami survivors more than three months after the disaster, a senior minister admitted Thursday.Sri Lanka’s warring parties are yet to agree on how to disburse millions of dollars in foreign aid for tsunami survivors more than […]

The government says is it has not yet been able to set up a joint mechanism to fund the North and East, and is waiting for a word from the LTTE top brass.The government says is it has not yet been able to set up a joint mechanism to fund the North and East, and […]

The Public Enterprises Reform Commission (PERC) has billed just over a million rupees for the government so far, selling its minority stakes in listed companies.The Public Enterprises Reform Commission (PERC) has billed just over a million rupees for the government so far, selling its minority stakes in listed companies. Small parcels including stakes in Commercial […]