CB extends suspension of PABC Primary Dealership

Friday, 16 February 2018 00:00 - - {{hitsCtrl.values.hits}}

Central Bank said yesterday it has extended the suspension of Primary Dealer Pan Asia Banking for another six months in order to continue the investigations into the bond scam.

“The Monetary Board of the Central Bank of Sri Lanka on 14th February 2018, 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 from carrying on the business and activities of a Primary Dealer by Pan Asia Banking Corporation PLC (PABC) for a period of six months with effect from 10.00 a.m. on 15th February 2018, in order to continue the investigations being conducted by the Central Bank of Sri Lanka,” the Central Bank said in a statement.

“The Central Bank wishes to emphasize that this regulatory action restricts PABC’s access to the primary auctions for government securities. It does not affect any of the other activities/ services of PABC,” the statement added.