CB extends suspension on Pan Asia’s Primary Dealer Unit

Friday, 7 June 2019 00:00 - - {{hitsCtrl.values.hits}}

Says six month extension necessary for ongoing investigations

The Central Bank yesterday said it has extended the suspension of the Primary Dealer Unit of Pan Asia Banking Corporation PLC for another six months, to assist ongoing investigations.

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 (PABC) for a period of six months, with effect from 15 February 2019.

In order to continue the investigations being conducted by the Central Bank of Sri Lanka, the Central Bank said in a short statement.

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