CB agreeable to issue MBSL licence as a specialised bank

The Central Bank has in principle approved the issuance of a license to Merchant Bank of Sri Lanka (MBSL) to operate as a Licenced Specialised Bank subject to amalgamation with it the MBSL Savings Bank, Merchant Credit Ltd and Ceylease Financial Services Ltd.

Following the regulatory clearance, MBSL Board has approved in principle the amalgamation subject to endorsement of same by the Boards of the respective entities.