Central Bank cancels Co-operative Leasing registration

The Central Bank of Sri Lanka has cancelled the registration of Co-operative Leasing Company Limited (CLCL) as a Registered Finance Leasing Establishment under the Finance Leasing Act No. 56 of 2000, effective from 10 June 2026.

According to the regulator, CLCL had repeatedly failed to comply with the Finance Leasing (Reporting Requirements) Direction No. 2 of 2010 issued by the Department of Supervision of Non-Bank Financial Institutions.

The company also failed to meet requirements under the Central Bank’s Masterplan for Consolidation of Non-Bank Financial Institutions, despite several extensions granted for compliance.

The Central Bank noted that CLCL had not made satisfactory progress toward ensuring business sustainability and had failed to present a viable plan for continued operations.

As a result, the Certificate of Registration issued to CLCL has been cancelled under Section 9(1)(f) of the Finance Leasing Act. The public has been informed that CLCL is no longer authorised to carry out any new finance leasing business activities.