Suspension on Pan Asia Bank’s primary dealership extended
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.