Sus­pen­sion on Pan Asia Bank’s pri­mary deal­er­ship ex­tended

Daily Mirror (Sri Lanka) - - FINANCE -

The Mon­e­tary Board of Cen­tral Bank of Sri Lanka has ex­tended the sus­pen­sion on the pri­mary deal­er­ship op­er­a­tions of Pan Asia Bank­ing Cor­po­ra­tion PLC for an­other six months.

“The Mon­e­tary Board of the Cen­tral Bank of Sri Lanka, act­ing in terms of the reg­u­la­tions made un­der the Reg­is­tered Stock and Se­cu­ri­ties Or­di­nance and the Lo­cal Trea­sury Bills Or­di­nance, has de­cided to ex­tend the sus­pen­sion of busi­ness and ac­tiv­i­ties of the Pri­mary Dealer Unit of Pan Asia Bank­ing Cor­po­ra­tion PLC (PABC) for a pe­riod of six months with ef­fect from 10.00 a.m. on 15th Fe­bru­ary 2019, in order to con­tinue the in­ves­ti­ga­tions being con­ducted by the Cen­tral Bank of Sri Lanka,” the Cen­tral Bank said. The op­er­a­tions of Pan Asia Bank’s pri­mary deal­er­ship op­er­a­tions were first sus­pended in Au­gust 2017.

The Cen­tral Bank em­pha­sized that this reg­u­la­tory ac­tion suspends Pan Asia Bank’s ac­cess to the pri­mary auc­tions for gov­ern­ment se­cu­ri­ties. It does not affect any of the other ac­tiv­i­ties/ser­vices of PABC.

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