SMLL granted finance company licence by Central Bank

Seylan Merchant Leasing Limited (SMLL) has been granted a licence to operate as a finance company by the Central Bank.

In an announcement to the Colombo Stock Exchange this week, SMLL said it had obtained approval from the Monetary Board to carry on finance business as a Licensed Finance Company under Section 7 of the Finance Companies Act.

Deputy Chairman of the Seylan Merchant Bank Group Rohan Senanayake said this is an important milestone for a relatively new player like SMLL.