Suspension of activities of Primary Dealer Unit of PABC extended

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.

The suspension has been extended with effect from 10.00 a.m. on 15th February 2020, in order to continue the investigations being conducted by the Central Bank of Sri Lanka, the Central Bank said today.

The Central Bank said that this regulatory action suspends PABC’s access to the primary auctions for government securities and does not affect any of the other activities/services of PABC. (Colombo Gazette)