CB extends suspension of Pan Asia Bank primary dealer activities for 6 months

Feb 15, 2018 (LBO) – Monetary Board of the Central Bank has decided to extend the suspension from carrying on primary dealer activities by Pan Asia Bank for a period of six months. Central Bank said the extension which will be effective from today will help them to continue with the investigations being conducted. Central Bank emphasized that this regulatory action restricts bank’s access to the primary auctions for government securities but it does not affect any of the other activities of the bank. In August last year, the Central Bank suspended business activities of the primary dealer of Pan Asia Bank for a period of six months. Central Bank earlier said the regulatory action is based on the findings of an investigation carried out by them related to Pan Asia Bank’s transactions with Perpetual Treasuries in the government securities market.