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Sri Lanka’s central bank cancels CIFL licence

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.

(Colombo/Nov23/2017)
 

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