Banking and Finance

Safe Funds

LONDON, Sept 24, 2006 (AFP) - Islamic finance is soaring around the world owing to an influx of petro-dollars from the Middle East and growing demand by …

Lucky Strike

Sept 22 (LBO) –Savers in Sri Lanka, who are losing money because of negative real interest rates in the country, stand to recoup their losses if they get …

Self Service

Sept 22 (LBO) - Some Sri Lankan banks that are shifting traffic off its counters and to self service channels like teller machines and home banking, are doing …

Broader Role

SINGAPORE, September 18, 2006 (LBO) – The International Finance Corporation, the World Bank’s private sector lender, is scaling up operations in …

Asian Trading

MANILA, Sept 15, 2006 (AFP) - The Asian Development Bank said Friday it has launched a 10 billion-dollar Asian currency note programme that would serve as the …

Settling Debts

Sept 14 (LBO) – Sri Lanka’s private port operator South Asia Gateway Terminals said Thursday that it has raised 48 million dollars through a …

Vehicle Rating

Sept 13 (LBO) – Sri Lanka’s largest leasing company People’s Leasing got a stable A-(lka) long term rating from Fitch Ratings Lanka, led by …

Time Please

September 12, 2006 (LBO) – Sri Lanka's banks has sought extra time from monetary authorities to report dormant accounts with only ten banks reporting …

Higher Plane

September 12, 2006 (LBO) – Sri Lanka’s Janashakthi Insurance Company Ltd said its profits grew 324 percent to 209.5 million during the financial …

Different Package

Sept 11, 2006 (AFP) - Finance ministers and top officials from Commonwealth countries meeting Monday in Sri Lanka's capital said they will seek ways to cancel …

Minting Money

September 11, 2006 (LBO) -- Sri Lanka's Central Bank is spearheading a campaign to push up foreign exchange remittance from countrymen residing overseas, in an …

Clean Records

Sep 7, 2006 (LBO) - The credit information has started to clear the credit records of former defaulters who have repaid their loans, a top official said. …

Joining Forces

Sept 04 (LBO) – NDB Bank said Monday that it had picked up a balance 70 percent stake in NDB Housing Bank, following Central Bank approval. NDB Bank held …

Good Returns

September 04, 2006 (LBO) – The Distilleries Group is in talks to increase their equity stake in its fund management unit National Asset Management Ltd or …

Charity Probe

Sep 04, (LBO) - Sri Lanka’s central bank, which froze the bank accounts of a charity operating in the country’s North and East areas said Monday, …

Common Issues

Sep 04, (LBO) - Finance ministers of commonwealth countries will try to find ways to improve aid delivery to developing countries and made aid more effective, …

Rocket Ride

August 25, 2006 (LBO) – Cheque usage in Sri Lanka has rocketed up, after an image clearing system is speeding up clearing, an official said. Sri Lanka's …

Backup Band

Aug 24, 2006 (LBO) – Sri Lanka's accounting watchdog has formed a committee to of experts to facilitate the flow emerging trends in accounting and …

Tinkering Job

August 24, 2006 (LBO) – Sri Lanka's financial intelligence unit is looking to raise the threshold on money transactions that have to be reported to …

Giving Hope

August 23, 2006 (LBO) – Vanik Inc., Wednesday offered creditors a chance of swapping their debt in return for equity, and also disclosed plans to reduce …