SEC Chief welcomes PM’s remark on EPF’s return to stock market

Thursday, 21 March 2019 01:52 - - {{hitsCtrl.values.hits}}

The Securities and Exchange Commission Chairman Ranel Wijesinha yesterday welcomed Prime Minister Ranil Wickremesinghe’s Tuesday announcement on the return of Employees’ Provident Fund (EPF) to the Colombo stock market.

“It is indeed encouraging to note the PM’s statement at the Daily FT, ICC SL and CIMA Fireside Chat that the EPF will finally return to the stock market. About time it did,” said Wijesinha, who was among 1,000 people present at the event at the Hilton, Colombo.

“I personally led a delegation of SEC and CSE officials many months ago to meet the Governor who elaborated on the series of steps the CBSL was taking,” said Wijesinha, following the event.

“My expectation is that the Central Bank will have built the required systems, procedures and controls, the risk management safeguards and the inherently expected investment evaluation criteria, such that the EPF will earn credibility once again as a responsible credible and necessary institutional investor, generating returns to its beneficiaries and playing the desired role as a contributor to the capital market of the country,” the SEC Chief added.

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