Regulatory Alerts2023-04-21 | Circular No. 1 of 2023Cessation of ICRA Lanka Ltd as an Acceptable Credit Rating Agency
The Central Bank of Sri Lanka has discontinued the regulatory recognition of ICRA Lanka Ltd as an acceptable credit rating agency for licensed commercial and specialized banks. This decision follows the agency's cessation of local business operations effective 31 January 2023, as reported by the Securities and Exchange Commission of Sri Lanka. Licensed banks are directed to implement appropriate measures to align their credit rating practices with this regulatory change.
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