Central Bank cancels registration of CLCL

The registration of the Co-operative Leasing Company Limited has been cancelled due to the breach of directives issued by the authorities of the Central Bank of Sri Lanka.

The Central Bank informs the public that the company is not permitted to carry out businesses in the future. However, the company can complete the businesses that it entered before the cancellation.

According to the CBSL, the company has breached directives issued by the Director of the Department of Supervision of Non-Bank Financial Institutions (DSNBFI). Accordingly, the company has failed to submit reporting requirements and Masterplan for Consolidation of Non-Bank Financial Institutions.