The Central Bank of Sri Lanka (CBSL) has permitting Swarnamahal Financial Services PLC (SFSP) to resume business for a limited period and on a conditional basis.
Issuing a statement, the CBSL said Swarnamahal Financial Services will be permitted to resume operations for six (06) months with effect from today (13).
The Monetary Board of the Bank has permitted the institution to operate in terms of Section 31(5)(a) of the Finance Business Act, No. 42 of 2011 (FBA).
The Central bank added that Swarnamahal Financial Services PLC can operate only for the purpose of exploring the possibility of absorbing the Company to the “Master Plan for Consolidation of Non-Bank Financial Institutions Sector”. (NewsWire)
