Saturday Jun 13, 2026
Saturday Jun 13, 2026
Saturday, 13 June 2026 07:05 - - {{hitsCtrl.values.hits}}
The Central Bank of Sri Lanka (CBSL) yesterday categorically denied claims made by a director of Kasagala Green Plantation Ltd. that the company is regulated by the Central Bank and submits periodic information to the regulator, describing the statements as factually incorrect, misleading and without legal basis.
In a statement, CBSL said remarks made by Director Malwattage Ranjith Nandana Pieris during the “Pini Viyana” program aired on ITN on 8 June had the potential to mislead the public. The Central Bank stressed that Kasagala Green Plantation is not an entity regulated by CBSL and that the statements suggesting otherwise were false.
CBSL also disclosed that an investigation is currently underway into the company’s activities under the Finance Business Act No. 42 of 2011 to determine whether it has carried on finance business or accepted deposits from the public in contravention of the law.
Separately, the Department of Supervision of Non-Bank Financial Institutions has written to chairpersons of all media institutions, urging them to exercise greater caution when publishing advertisements or conducting interviews involving entities that may be soliciting deposits from the public.
The letter notes that media organisations are required under the Finance Business Act to verify whether advertisers soliciting deposits are authorised to do so and warned that failure to comply amounts to an offence. CBSL also requested media institutions to seek verification from the regulator before publishing advertisements or facilitating promotional programs involving entities with apparent deposit-taking features.
