The decision has been taken by the Monetary Board of the Central Bank at its meeting held on 10 July 2020.
The Board arrived at this decision considering the extremely vulnerable liquidity position of ETIF and Swarnamahal Financial Services.
Earlier, the CBSL has taken a number of measures on ETI Finance Ltd. (ETIF) and ‘Swarnamahal Financial Services’ to address various irregularities taken place since 2011.
Source From biz.adaderana
Author: Isma Izzath
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