CB extends suspension on Pan Asia Bank primary dealer unit

• Ban extended for six months to facilitate investigations by Central Bank

The Central Bank said yesterday that it has decided to extend the existing suspension of the primary dealer activities of Pan Asia Bank for another six months.    

The Monetary Board of the Central Bank of Sri Lanka, acting in terms of the Regulations made under the Registered Stock and Securities Ordinance and the Local Treasury Bills Ordinance, has decided to extend the suspension of business and activities of the Primary Dealer Unit of Pan Asia Banking Corporation PLC (PABC) for a period of six months with effect from 15 August 2019, in order to continue the investigations being conducted by the Central Bank of Sri Lanka, it said in a statement.  The Central Bank wishes to emphasise that this regulatory action suspends PABC’s access to the primary auctions for Government securities. It does not affect any of the other activities/services of PABC.