The S&P rating upgrade will be completed after the SriLankan Airlines restructuring, Dr. Nandalal Weerasinghe, Central Bank said at an investor forum on Thursday.
He said that single borrower limits for corporate coming into force will compel banks to diversity their exposures. This will force them to diversify funds into the capital market, he added.
The Sri Lankan capital market also needs large State Owned Enterprises (SOEs) to list in the stock exchange, he noted saying that rasing capital in this method is the right way to go for SOEs.
There is a potential for regulated capital market products for the general public, he also noted saying that this type of products will attract the public and stop them from getting duped by scammers promising high yielding products.
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Kasun, was born in 28th Sept 1964, the grandson of the legendary author and linguist Munidasa Cumaratunga and son of SSP Bindu Kumaratunga and Winifred
The Inland Revenue Department (IRD) backed by the Excise and Customs Department today launched a fresh drive to collect taxes including some Rs.780 billion listed as ‘collectable defaults’.
Former Sports Minister Mahindananda Aluthgamage and former Sathosa Chairman Nalin Fernando have sentenced to 20 and 25 years respectively after they were found guilty in a case of fraud.
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