An advisory committee on the revival of failed licensed finance companies by CBSL

The Monetary Board of the Central Bank of Sri Lanka (CBSL) has established an Advisory Committee to examine possible revival options for failed finance companies.

 

It is chaired by Dharma Dheerasinghe – the Chairman of CBC Finance Ltd., former Chairman of Commercial Bank of Ceylon PLC and former Deputy Governor of the Central Bank of Sri Lanka.

 

The Monetary Board has vested the committee with the responsibility of recommending possible revival options for the following five (05) failed finance companies, of which the licenses have been either suspended or cancelled as at date.

 

The Finance Company PLC If, however reviving a particular entity does not seem feasible, the committee may recommend liquidation of the said entity as well.