ESG / Sustainability

Sri Lanka Regulator to Align Rules with New SEC Act Within January

28/12/2021

The new SEC Act passed in September paves the way for new rules and guidelines to raise ESG standards among listed companies in Sri Lanka.

AML / KYC

CBSL to Prosecute Remittances via Informal Channels Under AML Law

07/12/2021

Foreign workers have been using Hawala channels for remittances, as they offer better rates than formal banking channels.

Securities / Derivatives

Tax Incentives Prompt Raft of IPO Listings in Sri Lanka

27/11/2021

Companies will be able to maintain a reduced corporate tax rate for three years after listing. The CSE’s listing framework was also revamped earlier this year.

Sri Lanka Budget Imposes Heavy Burden on Financial Industry

18/11/2021

Sri Lankan bankers estimate that nearly 50 percent of the proposed LKR 304 billion in the budget will come from the financial services industry.

Securities / Derivatives

CSE Set to Implement New Index Calculation Methodology

18/11/2021

The current methodology has resulted in record high index levels from trading activity in stocks with little free float and actual liquidity.

Market Infrastructure

Sri Lanka Cabinet Approves Data Protection Bill

14/10/2021

Data controllers must ensure the security and confidentiality of personal data. The rights of data subjects will be enhanced. Cross-border transfers are allowed.

Market Infrastructure

Sri Lanka: CBSL Collaborates with Industry on Inward Remittances

12/10/2021

The central bank is working with banks, mobile operators, and government agencies to launch a new mobile app for inward remittances.

Market Infrastructure

CBSL Roadmap Outlines Six Month Plan to Stabilise Sri Lanka

06/10/2021

Export proceeds must be repatriated and converted to local currency. The loan moratorium will be unwound gradually. Liquidity support will be provided to banks.

Securities / Derivatives

Dhaka Bourse Commences Trading on New SME Platform

05/10/2021

Investors must have at least BDT 5 million in stock investments to participate in the secondary market for SMEs listed on the new platform.