All posts tagged "CBSL"
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1.0KAsia-PacificSri Lanka Eases Shareholder Limits on Commercial Banks
Multilateral agencies such as the World Bank and IFC can hold up to 20% of a commercial bank. Other firms or institutions can hold up to 15%.
September 14, 2020 -
1.7KAsia-PacificSri Lanka to Commence Probe into State Bank Fraud
Bank of Ceylon, People’s Bank, National Savings Bank, Regional Development Bank, and their related institutions will be probed for irregularities.
August 20, 2020 -
1.1KAML / KYCSri Lanka Fines 2 Banks, 3 Finance Firms for AML Failures
Sri Lanka's FIU has revealed that two banks and one finance company were penalised in 2019, and two other finance companies in 2020.
July 30, 2020 -
924Asia-Pacific
Sri Lanka Banks No Longer ‘Scared’ to grant Covid-19 Loans
Banks no longer need to risk weight the loans against capital due to a guarantee scheme announced by CBSL earlier this month.
July 23, 2020 -
721Australia & NZ
Sri Lanka Relaxes Rules for Capital Inflows, Restricts Outflows
Sri Lanka has increased the amount of foreign currency that can be physically brought into the country to be deposited into a 'Special Deposit Account'.
July 17, 2020 -
980Asia-Pacific
Banks ‘Must’ Pass on Reduce Rates to Borrowers: CBSL
Sri Lanka's central bank has cut interest rates again and is ramping up pressure for banks to reduce the rates they charge borrowers, particularly small businesses.
July 10, 2020 -
1.4KAML / KYC
Sri Lanka Shortlists Three Firms to Build Shared KYC Facility
The three shortlisted firms, including one from Sweden, will begin work on a proof-of-concept, which is expected to be completed in six to nine months.
July 7, 2020 -
587Asia-Pacific
Sri Lanka: CBSL to Absorb Credit Risk on Business Loans
The CBSL will provide credit guarantees ranging from 80% for smaller loans to 50% for larger loans issued to businesses affected by Covid-19.
July 2, 2020 -
2.7KAML / KYC
Sri Lanka’s ‘Special Deposit Account’, a Recipe for Disaster
A CBSL scheme announced in April to drive inward remittances and investment may risk Sri Lanka falling back into the FATF's grey list, says Duruthu Chandrasekera.
June 22, 2020 -
1.5KAsia-Pacific
Sri Lanka Cuts Statutory Reserve Ratio, Expands Lending Facility
The CBSL has cut the statutory reserve ratio by 200 basis points, releasing $617mn in liquidity in the banking system. The size of its re-finance facility has also been tripled.
June 17, 2020
