AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
SRI LANKANS SAFE TO DEAL WITH SEYLAN, REGULATED SECTOR: CB GOV.
COLOMBO, Jan 1 Asia Pulse - There is no danger in dealing with Sri Lanka's regulated financial sector and authorities have acted swiftly to build confidence in Seylan Bank by bringing it under a state-bank, Central Bank Governor Nivard Cabraal said.
The central bank dissolved the board of directors of Seylan Bank and put it under the administration of state-run Bank of Ceylon after a crisis at a member firm of Ceylinco group which controls the bank, led to customer withdrawals.
"With the Bank of Ceylon behind it, we call upon Seylan Bank customers to continue as normal," Governor Cabraal told reporters Tuesday.
"We assure you that they can continue transactions without any danger."
Golden Key Credit Card Company, an unregulated Ceylinco group firm, defaulted on its customers two weeks ago, triggering uncertainty.
Ceylinco chief Lalith Kotelawala has promised to repay customers and the group also said it was selling out of Seylan to raise funds to settle Golden Key's obligations.
Sri Lanka's stock market investors have already given a thumbs-up to the regulatory action, and Seylan shares surged after a trading halt was lifted Tuesday.
- SRI LANKA SEYLAN BANK BROUGHT UNDER BANK OF CEYLON: CENTRAL BANK.
- News wire article from: AsiaPulse News December 31, 2008 700+ words
...regulator said. The Central Bank said it was...of the board of Seylan Bank but retaining...encountered by Seylan Bank PLC with regard...problems," the Central Bank said in a statement...difficulties of Seylan Bank PLC presented...
- SRI LANKA CENTRAL BANK DELAYS SEYLAN BANK SALE.
- News wire article from: AsiaPulse News June 17, 2009 700+ words
...COLOMBO, June 17 Asia Pulse - Sri Lanka's central bank which offered a third stake of Seylan Bank to a private investor has not awarded it...Seylan Bank PLC is yet in progress," the Central Bank said in a statement Tuesday. "The Central...
- SRI LANKA'S SAMPATH BANK BIDS FOR STAKE IN SEYLAN BANK.
- News wire article from: AsiaPulse News April 16, 2009 700+ words
...Expression of Interest to the Central Bank to buy a stake in Seylan Bank, part of the troubled Ceylinco...investment in debentures of Seylan Bank is also expected. The central bank in December 2008 put Seylan Bank under the management control...
- FOUR SRI LANKAN LISTED FIRMS VIE FOR SEYLAN BANK.
- News wire article from: AsiaPulse News April 23, 2009 700+ words
...Sri Lanka's Seylan Bank, officials and analysts said. The Central Bank has said two other...naming them. Seylan Bank was put under...Interest The Central Bank is to inform qualified...memorandum for Seylan Bank. Sampath Bank...
- SRI LANKA SEEKS INVESTORS FOR STAKE IN SEYLAN BANK.
- News wire article from: AsiaPulse News March 30, 2009 700+ words
...EOIs. The central bank in December 2008 put Seylan Bank under the...ownership of Seylan Bank to 15 percent...banks. The central bank said that...depositors. The central bank advertisement...EOIs for the Seylan Bank stake is April...
- SRI LANKA'S SEYLAN BANK REPORTS LOSS.(Financial report)
- News wire article from: AsiaPulse News March 3, 2009 700+ words
...stock exchange filing. Seylan Bank's interest expenses rose...7.2 billion rupees. Seylan Bank has been the subject of...Key. Last December, the Central Bank in a move to restore stability to Seylan Bank, dissolved its Board and...
- SRI LANKA SEYLAN BANK ISSUES STATEMENT ON SHARE SALE BY CEYLINCO.
- News wire article from: AsiaPulse News December 31, 2008 700+ words
...or any shares owned by Seylan Bank. Further we wish to inform that Seylan Bank will not use the depositors...meet their obligations. Seylan Bank is a licensed commercial...regulated and supervised by the Central Bank of Sri Lanka. (LBO...
- SRI LANKA'S SEYLAN BANK BOARD DISSOLVED; PUT UNDER STATE BANK.
- News wire article from: AsiaPulse News December 31, 2008 700+ words
Dec 31 Asia Pulse - Sri Lanka's Seylan Bank's board of directors has been dissolved by the monetary board of the Central Bank and its operations brought under state-run Bank of Ceylon, a senior bank official said. The Ceylinco group has...
- SRI LANKA'S SEYLAN BANK GETS FOREIGN INTEREST: CB CHIEF.
- News wire article from: AsiaPulse News April 21, 2009 700+ words
...buyers interested in Sri Lanka's Seylan Bank have tied up with foreign partners...33 per cent stake in the bank, Central Bank governor Nivard Cabraal said...interest for a one-third stake in Seylan Bank which will be injected into the...
- SRI LANKA'S SEYLAN BANK TO SELL 5-YEAR DEBENTURES.
- News wire article from: AsiaPulse News December 4, 2008 700+ words
...Pulse - Sri Lanka's Seylan Bank is seeking at least...open on December 10. Seylan Bank said in the event of...cent payable annually. Seylan Bank also offers floating...begun to fall after the central bank tightened monetary policy...
Source: HighBeam Research, SRI LANKANS SAFE TO DEAL WITH SEYLAN, REGULATED SECTOR: CB GOV.