CBSL permits Sinhaputhra Finance to implement proposed capital augmentation plan

Sep 19, 2019 (LBO) – Monetary Board of the Central Bank of Sri Lanka has decided to provide Sinhaputhra Finance with an opportunity to implement the proposed capital augmentation plan within the stipulated timeframe.

Sinhaputhra Finance last month submitted an objection to the license cancellation notice issued by the Monetary Board saying that a capital plan backed by an investor who has demonstrated financial credibility of meeting the regulatory capital requirement was presented to the Monetary Board.