CB extends suspension of primary dealership of Pan Asia Bank

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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 a Primary Dealer of Pan Asia Banking Corporation PLC (PABC) for a period of six months with effect from 10.00 a.m. on 15th August 2018, in order to continue the investigations being conducted by the Central Bank of Sri Lanka.

The Central Bank said that the regulatory action restricts PABC’s access to the primary auctions for Government securities.

The Central Bank noted that the move does not affect any of the other activities/services of PABC. (Colombo Gazette)

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