Regulatory Alerts2024-10-07 | Banking Act Direction No. 07 of 2024Accommodation to Directors and Related Companies
The Central Bank of Sri Lanka has revoked the March 2005 amendment to its directions governing accommodation extended to directors and related companies. This revocation implements the October 2024 Gazette Order issued under Sections 47 and 76K of the Banking Act. The updated framework establishes current regulatory requirements for director-related lending and credit facilities, replacing the previously superseded guidelines.
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