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CB clarifies...

ATTENTION of the Central Bank of Sri Lanka has been drawn to a press release issued by Julius & Creasy Attorneys-at-Law, on behalf of the former Directors of Mercantile Credit Limited.

The Central Bank of Sri Lanka wishes to clarify that a management committee was appointed to Mercantile Credit Limited and credit was granted to the said company following the company having reported to the government a very serious decline in its financial conditions leading to an erosion of its capital base and a loss of confidence of depositors and the public, states a Central Bank press release.

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