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Jul 13, 2020

Business activities of ETI Finance & Swarnamahal Financial Services suspended

The Central Bank's (CBSL) Monetary Board has decided to suspend the business activities of ETI Finance’ and ‘Swarnamahal Financial Services’, effective from 13 July 2020.

The decision has been taken by the Monetary Board of the Central Bank at its meeting held on  10 July 2020.

The Board arrived at this decision considering the extremely vulnerable liquidity position of ETIF  and  Swarnamahal Financial Services.

Earlier, the CBSL has taken a number of measures on ETI Finance Ltd. (ETIF)  and ‘Swarnamahal Financial Services’ to address various irregularities taken place since 2011.

(adaderana.lk)

(Except for the headline, this story, originally published by adaderana.lk has not been edited by SLM staff)

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