News

CB suspension of PABC as primary dealer extended

Wednesday, 15 August 2018 News



The Central Bank of Sri Lanka has extended the suspension of business and activities as a primary dealer of Pan Asia Banking Corporation PLC (PABC) for a further six months with effect from August 15 to continue a current investigation into the firm.
“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 banking regulator said on Wednesday. 
The continuing probe pertains to dealings in the money market and relates to transactions during infamous trading by ‘rogue’ dealer Perpetual Treasuries Ltd. – ENDS -

CB suspension of PABC as primary dealer extended