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Unlisted Banks get 2011 end deadline:
Bank capital requirement increased
The Monetary Board of the Central Bank has
decided to increase the minimum capital requirement of licenced
banks, the Central Bank said yesterday. This aims to promote the
existence of strong banks that are resilient to internal and
external shocks. Increased capital will further provide a cushion
for banks to enhance their contribution to the new growth sectors of
the economy and to absorb any unexpected losses.
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All eyes on tourism
The tourism industry has been very excited
during the post war scenario. Much attention has been given to the
sector from both public and private sector, PATA International and
Jetwing Hotels Chairman Hiran Cooray said. Speaking on ‘Sri Lanka
Tourism: ‘Opportunities and Challenges’ organized by the Council for
Business with Britain (CBB) yesterday, he said Asia was the first to
recover from the global financial downturn and has shown a
tremendous growth trend in this region.
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CB, ICASL and ACCA collaborate on IFRS
For Financial Services sector:
The Central Bank of Sri Lanka (CB), the
Institute of Chartered Accountants of Sri Lanka (ICASL) and the
Association of Chartered Certified Accountants, UK (ACCA) are
conducting a workshop on International Financial Reporting Standards
(IFRS). This workshop is designed to ensure that finance and banking
professionals involved in Financial Reporting for the banking and
financial sector have a good understanding of IFRS as its
application is more complex in the financial services sector.
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