CSBA thanks President

On removing lending ceiling:

“The 5% ceiling on lending against listed securities has been removed “President Mahinda Rajapaksa has taken prompt action in response to the appeals made by the Colombo Stock Brokers Association (CSBA) at our meeting this month at Temple Trees. Central Bank issued a directive to all the Commercial Banks that the 5% ceiling on lending against listed securities has been removed altogether with immdiate effect. Banks can now use their discretion to decide on the amount to be lent to margin trading seeking customers. This timely gesture can inject billions of Rupees by way of margin trading funds to the stock market.

“We take this opportunity to thank President Mahinda Rajapaksa, Economic Development Minister Basil Rajapaksa, Central Bank Governor Ajith Nivard Cabraal and Central Bank Deputy Governor Ananda Silva for taking timely action”.