Economics

Parliament Approves Offshore Banking Regulations at Port City Colombo

  • September 12, 2024

Port City Colombo announced that Parliament officially passed two key offshore banking regulations, Offshore Banking and Offshore Banking – Prudent Management and Confidence, on September 4, 2024. This significant development aligns with Port City Colombo’s ambition to establish itself as a prominent regional financial centre, attracting increased Foreign Direct Investment (FDI) into Sri Lanka. Seven

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Finance

Sri Lankan Banks and Bank of China Explore Offshore Banking Opportunities in Colombo Port City

  • August 22, 2024

Nine Sri Lankan banks, along with the Bank of China, have shown interest in establishing branches within the Colombo Port City, according to Chief Operating Officer of the Colombo Port City Economic Commission, Revan Wikramasuriya. Recently, Sri Lanka has introduced new regulations governing banking operations within this special economic zone. These banks will be regulated

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