Sri Lanka cabinet approves capital market strategy 2016-2020

Oct 27, 2016 (LBO) - Sri Lanka's cabinet has given the nod for the government to follow a five-year capital market strategy in order to attract investors, issuers, institutions and mediators, a statement said. "Although the capital market plays a major role in economic development and sustainable development in rising economies in the world Sri Lanka has not used its potential," a statement on approved cabinet decisions said.

"Hence, the capital market of Sri Lanka should be converted into an efficient and interesting place for share issuers, investors, institutions, and mediators.

" The proposal was put forward by the Prime Minister Ranil Wickremesinghe to follow the Capital Market Strategy 2016-2020 that proposes regulatory and development actions to be followed in future. A 250 million dollar loan from the Asian Development Bank in two tranches would be utilized for this purpose, a media report said.