The Central Bank’s (CBSL) Monetary Board has decided to suspend the business activities of ETI Finance’ and ‘Swarnamahal Financial Services’, effective from 13 July 2020.
The decision has been taken by the Monetary Board of the Central Bank at its meeting held on 10 July 2020.
Earlier, the CBSL has taken a number of measures on ETI Finance Ltd. (ETIF) and ‘Swarnamahal Financial Services’ to address various irregularities taken place since 2011.
However, considering the extremely vulnerable liquidity position of ETIF and ‘Swarnamahal Financial Services’, the Monetary Board of the CBSL has decided to suspend the business operations from today.
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