Committee makes proposals to address irregularities in finance leasing businesses
Jul 08, 2020 (LBO) – The Committee appointed to examine irregularities and illegal activities of the leasing business, recommends short term and long term …
Banking and Finance
Sri Lanka’s Central Bank to develop Blockchain Technology based KYC Proof of Concept
Jul 07, 2020 (LBO) – Sri Lanka's Central Bank has entered into agreements to begin the process of developing a Blockchain Technology Based Shared …
ComBank ‘Arunella’ brings multiple COVID-19 relief initiatives to customers
As its commitments to providing relief to businesses affected by the COVID-19 pandemic continue to grow exponentially, the Commercial Bank of Ceylon has …
No change in interest rate paid to senior citizen’s deposits: Finance Ministry
Jul 07, 2020 (LBO) – Sri Lanka's Finance Ministry says that there has been no change in the interest rate paid on senior citizen's deposits and the interest …
Opinion: Import controls – out of control?
By Erandi de Silva As the COVID-19 virus forced much of the world into lockdown, the scale of interdependence and reliance on trade across nations was apparent …
H20 ONE Appoints Chaminda Lakmal as Chief Executive Officer
H20 ONE (Pvt) Ltd (H201) announced that they have appointed Chaminda Lakmal as Chief Executive Officer effective from 1st August 2020. Lakmal has over 12 years …
Fitch affirms National Ratings of 4 finance companies; one on rating watch positive
Jul 03, 2020 (LBO) – Fitch Ratings has affirmed the National Long-Term Ratings of four Sri Lankan finance and leasing companies. -AMW Capital Leasing And …
Sri Lanka inflation marginally down in June 2020
Jul 02, 2020 (LBO) - The year on year inflation as measured by the Colombo Consumer Price Index (CCPI) is 3.9 percent in June 2020 and inflation calculated …
Sarvodaya Development Finance records a profit growth of 147-pct in 2019-20
Jun 30, 2020 (LBO) – Sarvodaya Development Finance (SDF), the financial services arm of the Sarvodaya Movement, sailed through the turbulent 2019-20 …
HNB records 15-pct YoY growth in digital remittances during COVID lockdown
Jun 29, 2020 (LBO) – Sri Lanka’s HNB has reported a smooth transition to contactless remittance transactions parallel to rising demand for digital …
Second stage of compensation payments to The Finance Company depositors
Jun 26, 2020 (LBO) – Sri Lanka's Central Bank has taken measures to commence the second stage of the compensation payments to the depositors of The Finance …
Bank of Ceylon disburses loan facilities over Rs. 4bn thus far
Jun 26, 2020 (LBO) – As the Sri Lankan business community struggles to recover from the devastating effects of the COVID-19 economic impact, the country’s …
SL Treasury, Central Bank should consider credit guarantees for Covid-19 distressed bank loans
By the Advocata Fellows: Liquidity injections will impact forex market and debt repayments Even though Sri Lanka’s economy has opened up, businesses are …
ComBank further slashes lending rates
Jun 26, 2020 (LBO) - The Commercial Bank of Ceylon has announced a further lending rate cut, slashing rates by up to 2 percent on all categories of loans in a …
Sampath Bank ‘Revive Sri Lanka’ offers special low-interest business loans
Jun 25, 2020 (LBO) – Sampath Bank has rolled out a host of special business loans and gold loans under its Revive Sri Lanka initiative at a low-interest rate …
SL should aim for V-shaped economic recovery post COVID 19 : Cabraal
Jun 25, 2020 (LBO) - Ajith Nivard Cabraal, advisor to the Prime Minister on Economic Affairs says that Sri Lanka should aim for V-shaped economic recovery and …
Sri Lanka tourism post COVID-19 – way forward
Jun 24, 2020 (LBO) - Following Sri Lanka’s successful containment of COVID-19, Sri Lanka Tourism has been collaboratively exploring avenues of re-positioning …
Nations Trust Bank launches Rs.7Bn “Nations Diriya” fund to support economic revival
Jun 24, 2020 (LBO) – Nations Trust Bank announced the launch of 7 Billion rupees internally generated funds dedicated to extending financial support to key …
John Keells Holdings secures USD 175 mn long-term financing facility from IFC
Jun 23, 2020 (LBO) – Sri Lanka's diversified John Keells Holdings on Tuesday entered into a long-term financing agreement with the International Finance …
Nation Lanka Finance appoints Suresh Amerasekera as CEO
Jun 23, 2020 (LBO) – Nation Lanka Finance (NLF) announced the appointment of Suresh M. Amerasekera as their new CEO with effect from 9 June 2020. buy advair …