Central Bank Governor Ajit Nivard Cabraal yesterday
assured that the authorities will take all possible steps to avert any
crisis of confidence in the financial services sector following the Golden
Key Credit Card Company’s problems which led to Mr. Lalith Kotelawala
announcing that he would "divest the investment" in the Seylan Bank.The Central Bank statement stressed that the Monetary Law
Act No.58 of 1949 provides extensive powers to the Monetary Board of Sri
Lanka to intervene in various ways where the stability of the financial
system is at any risk at any time.
Under privileged children from around Colombo were hosted by religious leaders from Bambalapitiya on Christmas Day. The group of local monks, priests, nuns and other religious leaders presented about 150 children with stories, food and presents in the courtyard of the Nirmala Jesuit Church. There was a singing contest, and each child was called by name to receive bags of school supplies and other gifts. The atmosphere was, for the afternoon, full of laughter, singing, colorful clothing, and the popping of balloons. (Photo by Ann Raber)
Ceylinco Group to sell its
Seylan shares to honour Golden Key dues
Mr. Lalith Kotelawala and the Ceylinco Group have decided
to divest Seylan Bank shares owned by the group to raise funds to honour
dues to Golden Key credit card holders, the Seylan Bank said in a news
release last evening.
Be less generous to SLMC
atPC polls says UNP Muslims
The SLMC and an influential Muslim group in the UNP are at
logger heads over nominations for forthcoming elections to Wayamba and
Central Provincial Councils.
