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Central bank promulgates regulations on Financial Consumer Protection
The Central Bank is to introduce Regulations on Financial Consumer Protection having recognized the need to institutionalize financial consumer protection in the delivery of services by regulated financial institutions.
PSC focuses on digitise public and private institutions to promote investments
The need of the digitization of public and private institutions in promoting investments in Sri Lanka and establishing a single point for obtaining all necessary approvals for investment promptly has been emphasized.
Central Bank kicks off banking sector asset quality review
The Central Bank has kicked off an asset quality review of the country’s banking sector to identify possible stresses in different pockets of banks’ balance sheets as they provide enormously on possible bad loans and other financial asset losses in 2022 with the final stretch of moratoria expiring early this year.
Bangladesh hopeful on Sri Lanka repaying US$ 200 Mn in September 2023
Bangladesh is expected to get back the money, which was borrowed by Sri Lanka, from September this year as the country's economic situation is improving, Bangladesh Foreign Minister AK Abdul Momen has said.
CB requests banks to consider restructuring loans of high salaried public staff
Sri Lanka’s commercial banks are now faced with debt default issues of borrowers hit by unprecedented income tax and corporate tax hike with Non-Performing Loans (NPLs) increasing beyond its control, several general managers of banks complained.