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news.lk
Cabinet Decisions taken at the Cabinet Meeting held on 04.05.2026

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news.lk
lankatalks.com
Using 'finance' in business names without approval illegal: CBSL warns

The Central Bank of Sri Lanka (CBSL) yesterday cautioned the public in using the word ‘finance’ in a manner that violates the provisions of the Finance Business Act.In a statement of warning, the monetary watchdog asserted that no person, other than a finance company and an institution specified in Section 10(6) of the act, shall use the terms ‘finance’, ‘financing’ or ‘financial’. The words cannot be used alone or in combination with another word or any of its derivatives or its transliterations or their equivalents in any language, as part of the name or description or business name of such person.“Doing so would require prior written approval of the CBSL,” the regulator said.“In terms of Section 56(4) of the act, any person who contravenes or fails to comply with the said provision is guilty of an offence under the act. The public is strongly advised to adhere to the aforesaid legal requirement,” it stressed.Source: Daily Mirror

lankatalks.com
facebook.com
COLOMBO (News 1st): Cabinet approval has been granted for the ...

The Cabinet approved the proposal made by the Minister of Finance for amendment ... not inimical to the sovereignty of Sri Lanka in any way. The agreement had ...

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sundaytimes.lk
Compensation payments to depositors of failed The Finance Company

With the license issued to the collapsed The Finance Company PLC (TFC) to carry on finance business being cancelled with effect from May 22 in terms of the provisions of the Finance Business Act No. 42 of 2011, the Central Bank (CB) said on Thursday that it has begun the process of paying compensation to depositors. The banking regulator, said in a media release, that it is taking steps to pay ...

sundaytimes.lk