Thursday September 20, 2018

Sri Lanka's central bank cancels CIFL licence

Nov 23, 2017 15:26 PM GMT+0530 | 0 Comment(s)

ECONOMYNEXT – Sri Lanka’s central bank said it has decided to cancel the licence of Central Investment and Finance (CIFL) , a troubled finance company, under the provision of the Finance Business Act no.42 of 2011.

Notice of cancellation has been issued to the company, a stock exchange filing said. Trading of CIFL shares were suspended pending the accouncement.

The central bank said CIFL can object to the cancellation in writing to its Monetary Board.