The consortium led by Asia Capital will start due diligence work on Thursday, to revive the trouble Pramuka Savings & Development Bank.
The start date follows another round of meetings with Central Bank authorities on Wednesday.rn
rnThe Central Bank allowed Pramuka to resume business on January 22, subject a lengthy list of conditions, which includes a ban on raising public funds.rn
rnThe Asia Capital/Richard Peiris consortium has time till July 22, to infuse cash and resurrect Pramuka.rn
rnWith a new management team on board, Pramuka will also qualify for a commercial banking licence.rn
-LBO Newsdesk: LBOEmail@vanguardlanka.comrn