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CBSL announces execution of resolution action on Nation Lanka Finance
Daily FT
|July 05, 2025
Charges NLFP has continuously been violating/ contravening the provisions of the FBA and several Directions and Rules issued
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- Alleges Company's financial condition not satisfactory due to deficient capital level, poor asset quality, continuous losses and failure in repaying depositors' money on demand or at maturity
- CBSL appoints an Administrator to the NLFP to assume full control over all the assets, rights, business and affairs and carry on the business and affairs of company in the name and on behalf of the company
THE Central Bank yesterday announced the execution of resolution action on Nation Lanka Finance PLC (NLFP) under the Banking (Special Provisions) Act, No. 17 of 2023.
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