Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Central Bank of Sri Lanka initiates action on consolidation of the financial sector
Mon, Jan 13, 2014, 11:52 pm SL Time, ColomboPage News Desk, Sri Lanka.

Jan 13, Colombo: Sri Lanka's Central Bank has initiated action on consolidating in the financial sector as proposed in the 2014 budget by the President and presented in the Bank's Road Map for 2014.

Accordingly, a Master Plan on the Consolidation of the Financial Sector to create a stable financial sector with strong and dynamic financial institutions to steer the country towards the economic goals set for 2016 and beyond has been prepared by the Central Bank.

The Governor of the Central Bank Ajith Nivard Cabraal will explain the Master Plan on the Consolidation of the Financial Sector to the relevant stakeholders on Friday 17 January at the Central Bank.

Following the initiative, the Central Bank will hold one-to-one discussions with all banks and non-bank financial institutions to guide them in accordance with the newly announced Plan.

The Central Bank said it will also closely monitor and support the consolidation process in order to ensure that it will be smooth and constructive.

The Bank however, requests all institutions involved to ensure that there will not be any cutback of staff in banks and non-bank financial institutions as a result of the consolidation process.

Meanwhile, those financial institutions are urged to align their immediate future business plans, recruitment and capital expenditure, to be in line with the new developments that are to take place over the next few months.

ColomboPage - Recent 10 Stories
Sri Lankan public asked to be vigilant on suspicious terrorist activities
-- [1 hour and 36 minutes ago]
Lot can be learnt from Sri Lanka's experience with non-state actors - Defense secretary
-- [4 hours ago]
US is looking to resume a 'more comprehensive' military relationship with Sri Lanka
-- [5 hours ago]
Apex court in India rejects plea to probe Indian army's involvement in Sri Lanka war
-- [5 hours ago]
Sri Lankan Chief Prelate threatens to launch protest over government failure to amend land laws
-- [6 hours ago]
Governing party of Sri Lanka unlikely to take action against members voted against local government budgets
-- [6 hours ago]
Sri Lanka's main opposition prepares for Uva Provincial Council election
-- [6 hours ago]
Indian Supreme Court to hear case against role of Indian Army in Sri Lanka war
Abu Dhabi-based Rotana Jet starts flights to Sri Lanka
Sri Lanka fourth worst place for journalists' murders to go unsolved

Copyright © 2000, 2014 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.