Hurdles in Law

The private sector is calling for a new law to facilitate asset securitisation transactions in the country and a high-powered financial reforms committee is trying to come up with a draft Act in consultation with industry players.
Asset securitisation deals are a rave with leasing companies to hosing loan providers borrowing against their future cash flows.







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rnPeople who structure the deals say that they have to refer several different Laws before finalising deals. rn

rnThe whole process, according to experts, doesnt inspire confidence.rn

rnldblquote The legal principles are already in our law. The question is whether they are investor driven, dblquote Naomal Goonewardena, Corporate Lawyer says.

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rnldblquote These are very general. If we can collate it and put into one document and if we can have legislative approval for it, then the investors will have more confidence, dblquote he says.

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rnA government-backed committee looking at reforms in the financial sector is presently trying to dr