Cabinet nod to amend Banking Act

The joint proposal made by the Prime Minister and the Minister of Finance to amend Direction No.01 of 2007 issued under the Banking Act, No.30 of 1988 in order to promote local shareholding in the field of banking and as well as to strengthen the capital adequacy requirement of the licensed Commercial Banks in Sri Lanka as proposed in the Budget Speech of 2019 and adopted, was approved by the Cabinet.

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