CB approval for MBSL

The Central Bank of Sri Lanka has provided "in principal approval" for the issuance of a license to Merchant Bank of Sri Lanka PLC (MBSL) to operate as a Licensed Specialized Bank, CSE filing said yesterday.

This is subject to, inter alia, the inclusion of MBSL Savings Bank Limited as an entity to be amalgamated with MBSL, in addition to Merchant Credit of Sri Lanka Limited (MCSL) and Ceylease Financial Services Limited (CFSL), CSE filing said.

CSE filing further said the Board of Directors of MBSL approved in principal the inclusion of MBSL Saving Bank Limited as an entity to be amalgamated with MBSL in addition to MCSL and CFSL at a board meeting held recently.