Regulatory Alerts2018-06-06 | Direction No. 4 of 2018Central Bank of Sri Lanka Directions on Valuation of Immovable Properties for Specialized Leasing Companies
The Director of the Department of Supervision of Non-Bank Financial Institutions at the Central Bank of Sri Lanka issued Directions No. 4 of 2018 to regulate the valuation of immovable properties for Specialized Leasing Companies. These Directions mandate that companies establish board-approved policies covering valuer eligibility, valuation thresholds, frequency, and independence, while requiring valuers to hold specific professional credentials. The regulations also specify distinct valuation frequencies for collateral and investment properties and enforce strict disclosure requirements in annual reports to ensure transparency and mitigate conflicts of interest.
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