Friday Aug 22, 2025
Friday Aug 22, 2025
Friday, 22 August 2025 00:20 - - {{hitsCtrl.values.hits}}
The Cabinet of Ministers on Monday approved granting policy clearance to proceed with drafting a bill to amend the Bank of Ceylon Ordinance No. 53 of 1938, in line with earlier Cabinet approval granted on 15 July 2024.
The proposed amendments aim to broaden the capital structure of the Bank of Ceylon, expand the scope of its permitted activities, and strengthen its overall administrative framework, ensuring the institution is better equipped to meet modern banking and financial sector demands.
Accordingly, the Legal Draftsman has been directed to prepare a draft bill to facilitate the changes.
The proposal to this effect was submitted by President Anura Kumara Disanayake, in his capacity as Finance, Planning and Economic Development Minister.
