Did the Central Bank bungle or was it a bona fide error? Confusion reigned earlier this week over a direction given by the Central Bank (CB) on maximum loan facility available for leasing vehicles. A CB issued a directive on September 14 titled “Finance Leasing Act Direction No 01 of 2015” to specialised leasing companies said from September 15th, leasing companies can grant loans or advances not exceeding 70 per cent of the value of such vehicle known in technical terms as “loan to value ratio (LTV)”. Since then finance and leasing companies have been providing leases based on this circular (at up to 70 per cent).However on October 29, the CB issued another directive this time under the Finance Business Act (Finance Business Act Direction No 2 of 2015) saying that the circular issued dated September 14 on the LTV “shall come into force with effect from December 1, 2015”. Read more on this story
The Judicial Service Commission (JSC) has interdicted Colombo Fort Magistrate Kosala Senadheera.
Mr. Ali Sabri Rahim, a Member of Parliament (MP) for Puttalam District whom an open warrant had been issued, attended a public ceremony at Al Aksha National School in Kalpitiya today (16) as the special guest of honor.
The Supreme Court today refused interim relief in an application filed by President’s Counsel Senaka Walgampaya seeking an Order from the Supreme Court compelling the President to appoint judges to fill the existing vacancies in the Court Of Appeal.
Gazette on new speed limit regulations to be issued within two weeks
Two underworld criminals wanted for multiple crimes, including murder, were brought from Dubai to Sri Lanka, today (12).
Acting Attorney General Parinda Ranasinghe, was appointed as the Attorney General of Sri Lanka a short while ago.
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