Regulatory Alerts2018-06-06 | Direction No. 4 of 2018Directions on Valuation of Immovable Properties for Licensed Finance Companies
The Monetary Board of the Central Bank of Sri Lanka issued Directions No. 4 of 2018 to establish a regulatory framework for the valuation of immovable properties held by Licensed Finance Companies. These Directions mandate that companies implement board-approved policies covering valuer eligibility, internal and external valuation thresholds, and specific frequency requirements for non-performing and investment properties. Additionally, the regulations enforce the independence of external valuers and require detailed disclosures regarding valuation policies in annual reports and audited financial statements.
Share