CBSL to rap errant RFCs
Charumini de Silva
The Central Bank will take strict action on Registered Finance
Companies who do not meet dead lines in stock market listing, the
Central Bank Governor said yesterday.
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The Central Bank |
Central Bank Governor Ajith Nivard Cabraal said the deadline for
Registered Finance Companies (RFC) to be listed in the Colombo Stock
Exchange (CSE) would not be extended as they were given two years.
“The regulation has to be fair on those who have already got listed
the CSE,” he said.
“Discipline has to be maintained in the financial system and the
Central Bank has made it mandatory for all RFCs to get listed in the
stock market by the end of June.
“The Central Bank also carried an advertising campaign to encourage
RFCs to get listed and those who fail to enter the capital market in due
time will be taken to task for not complying Central Bank regulations.
“Measures such as freezing additional deposits and if the RFCs go to
the extreme, managing agents will be appointed to ensure order and
discipline in the financial system,” the Governor said.
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