Jan 11, 2022

People's Bank removed from blacklist

The Economic and Commercial Office of the Chinese Embassy removed People's Bank from its blacklisted companies.

On Jan. 09, 2022 the bank had informed the embassy of its request to be taken off the blacklist.

This comes after the People’s Bank honoured the Letter of Credit obligation of USD 6.9 Mn to China’s Qingdao Seawin Biotech Group last Friday (07).

The payment was made after the Colombo Commercial High Court dissolved an order preventing the payment to a Chinese company for imported fertilizer.

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