The Financial Intelligence Unit of Sri Lanka (FIU-Sri Lanka) entered into a memorandum of understanding (MoU) with the Financial Intelligence National Centre of the Kingdom of Bahrain (FINC-Bahrain), to exchange financial intelligence related to money laundering (ML) and associated predicate offences and in relation to terrorist financing (TF) offences.
In a collaborative effort to prevent financial crimes in the country, the Financial Intelligence Unit (FIU) of Sri Lanka entered into a Memorandum of Understanding (MoU) with the Commission to Investigate Allegations of Bribery or Corruption (CIABOC), today.
The Intentional Monetary Fund (IMF) announced the completion of the second review under the 48-month Extended Fund Facility (EFF) Arrangement, allowing the Sri Lanka to draw SDR 254 million (about US$336 million).
United Petroleum Australia, which has entered Sri Lanka’s petroleum retail market, will start their operations by the end of July or beginning of August this year, taking over 150 existing fuel stations and building over 50 new stations, Director of United Petroleum Lanka Private Limited in Sri Lanka Dr. Prabhat Samarasinghe said.
The Monetary Policy Board of the Central Bank of Sri Lanka has decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) at their current levels of 8.50 percent and 9.50 percent, respectively.
The value of the US dollar and the Sri Lanka Rupee is determined by the supply and demand. If the value of the dollar rises significantly, the Central Bank of Sri Lanka (CBSL) has sufficient dollars to control it, Finance State Minister Ranjith Siambalapitiya said.
Sri Lanka is facing mounting pressure to maintain its current reform momentum, as experts continue to warn that any deviation from the path could potentially derail the country’s progress and plunge it back into crisis.
While denouncing the false rumours regarding imminent vehicle importation, the Vehicle Importers Association of Sri Lanka (VIASL) clarified that no vehicles, including lightweight vehicles, will be imported within the current year or before the election.
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