Duruthu Edirimuni Chandrasekera is a senior business journalist based in Sri Lanka with over 15 years of experience covering stock markets, banking and trade.
CBSL Warns Banks Against Creating FX Black Market
03/10/2021
Sri Lankan banks are charging heavy premiums to execute FX transactions, claiming to not have US dollars available.
Securities / Derivatives
CSE Launches New OTC Platform for Corporate Debt Repo
20/09/2021
The new platform will enhance the repo trading mechanism and facilitate a buildup of liquidity in Sri Lanka’s corporate debt market.
Securities / Derivatives
Sri Lanka: CSE to Allow Fundraising in Foreign Currencies
18/09/2021
Sri Lankan companies will be allowed to raise debt and equity in foreign currency on the Colombo Stock Exchange. A new benchmark index is also being launched.
New CBSL Governor Takes Office, Pledges to Ensure Stability
16/09/2021
The changes at the CBSL come as Sri Lanka faces depleting foreign exchange reserves and a weakening currency.
Market Infrastructure
Sri Lanka Passes New SEC Act to Bolster Capital Market
09/09/2021
SEC chairman Viraj Dayaratna described the new law as “futuristic”, saying it will help to increase market liquidity and attract foreign investment.
Bangladesh Bank Ends Moratorium on Loan Repayments
09/02/2021
Coupled with the weaker debt repayment capacity of borrowers, Moody’s expects the move to cause a systemwide increase in the NPL ratio.
Capital / Liquidity
CBSL Reduced Risk Weights on Bank Mortgage Loans
01/02/2021
The Sri Lankan central bank has lowered the risk weights applicable to credit risk for foreign claims on the central government and residential housing loans.
Securities / Derivatives
Sri Lanka Issues Good Practices Guidelines for Stockbrokers
26/01/2021
The guidelines are mandatory and require immediate implementation. Three months’ grace is given for a new cap on investment advisor commissions.
Securities / Derivatives
Sri Lanka SEC Approves New IPO Process, Relaxed Listing Rules
25/01/2021
The SEC has asked the Colombo Stock Exchange to implement a broad programme to educate companies on the simplified processes and encourage them to list.
CBSL Interest Rate Cap on Housing Loans Need Clarity
10/12/2020
The interest rate cap is intended for housing loans for salaried employees, but CBSL has not indicated if it will apply to refinance loans.
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