Sri Lanka state banks to raise up to a billion US dollars from ME

ECONOMYNEXT  – Sri Lanka’s main state banks are expecting to raise up to billion US dollars from the Middle East by the end of the year, Central Bank Governor Indrajit Coomaraswamy said.

State-run Bank of Ceylon, People’s Bank and National Savings Bank has already met Middle Eastern Banks with another two large banks, he said.

The state banks are planning to raise between 750 million to 1,000 million dollar by the end of the year, he said.

The money will be invested in Sri Lanka Development Bonds.

The banks would be able to raise loans at rates below the International Sovereign Bond rates, he said. (Colombo/Nov14/2018)

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