News

CBSL approval not required for US-funded lending operations in SL

Published

3 years ago

2023/01/2

Thilina Walpola

HNB, JKH to disburse USD 4 mn

By Shamindra Ferdinando

Approval of the Central Bank of Sri Lanka (CBSL) was not required for the launch lending schemes here with overseas funding, a senior official said yesterday when he was asked whether the Hatton National Bank (HNB) and John Keells Holdings (JKH) had obtained CBSL approval for lending USD 4 mn to micro, small and medium-sized enterprises (MSMEs) in the food sector made available by the US.

The US Embassy, in a statement, dated Dec. 29, called the USAID-funded lending operation an innovative supply chain facility meant to disburse capital through Keells Supermarkets and HNB. Asked whether regulatory authorities monitored such schemes, the official stressed that “money

lending is not a regulated activity though deposit taking from the public comes under the purview of the CBSL.”

According to the US Embassy, this facility would provide MSMEs with competitive fixed interest rate financing. “The facility lent a total of USD 430,000 to eight suppliers in its first weeks of operations. The partnership plans to support approximately 100 MSMEs to obtain USD 4 million worth of credit over six months,” the embassy said.

The official said that current laws and regulations did not in any way hinder such lending operation. The statement quoted Gabriel Grau, the USAID/Sri Lanka and Maldives Mission Director as having said: “Sri Lankan enterprises face increasing pressures due to recent global supply chain disruptions, high energy costs, volatile inflation rates, and economic instability. This supply chain financing facility alleviates some of the pressures and enables MSMEs to optimize their working capital.”

According to recent statements issued by the US embassy, WFP et al as well as Parliament, the USAID has provided funds for several initiatives ranging from fertilizer to awareness programmes for primary school children.

Political sources told The Island that in the wake of the last presidential election in Nov 2019, the USAID had declared its intention to step up operations here. The then President Gotabaya Rajapaksa in June 2021 discussed the status of USAID projects in Sri Lanka with Reed J. Aeschliman, senior official in charge of their Sri Lankan Office. They had agreed to accelerate the development projects, sources said, adding that the continuing crisis here has paved the way for accelerated interventions.

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News

Animal Welfare Draft Bill to be Gazetted

Published

7 hours ago

2026/06/24

Priyan

A specialists committee has been appointed by the Secretary to the Ministry of Agriculture, Livestock, Lands and Irrigation adhering to the decision of the Cabinet of Ministers dated 29.12.2025 for submitting appropriate recommendations analyzing the provisions of the draft bill formulation in regard to Animal Welfare.

Based on the recommendations of the said Committee, the Legal Draftsman has been instructed at the meeting of the Cabinet of Ministers held on 18.05.2026 to prepare the final bill on the animal welfare.

Wherefore, the Legal Draftsman has formulated the draft bill and the clearance of the Attorney General has been received in the connection.

Accordingly, the Cabinet of Ministers granted approval to the resolution furnished by the Minister of Agriculture, Livestock, Lands and Irrigation to publish the said draft bill in the
Government Gazette Notification and subsequently forward the same to the Parliament for its concurrence.

News

Legal provisions on marking voters using indelible ink during elections removed

Published

7 hours ago

2026/06/24

Priyan

Under the legal provisions for elections in this country since 2004, it is mandatory for voters who come to mark their votes to verify their identity through a valid identity card, and it is also mandatory for all such voters to be marked with an appropriate mark using indelible ink. The dual purpose of these two functions is to prevent a voter from voting more than once in a single election.

It has been observed that having to follow two different
methods at the same time to achieve the same objective hinders the efficiency of the duties performed at the polling stations and also incurs additional costs to the government.

Therefore, it has been deemed appropriate to remove the legal provisions regarding the use of indelible ink and marking the voter with the appropriate mark from all election acts.

Accordingly, the development activities of the province, as well as national security, will benefit. Therefore, the Cabinet of Ministers has approved the resolution furnished by the
President to take necessary steps to remove the legal provisions

• Section 36 of the presidential Election Act, No 15 of 1981
• Section 38 of the Parliamentary Election Act, No 01 of 1981
• Section 36 of the Provincial Council Election Act, No 02 of 1988
• Section 53 A of the Local Government Elections Ordinance (262 Authority)
• Section 21 of the Referendum Act No 7 of 1981

News

Showers will occur in the Western, Sabaragamuwa and North-western provinces and in Galle, Matara, Kandy and Nuwara-Eliya districts

Published

8 hours ago

2026/06/24

Priyan

WEATHER FORECAST FOR 24 JUNE 2026
Issued at 05.30 a.m. on 24 June 2026 by the Department of Meteorology

Several spells of showers will occur in the Western, Sabaragamuwa and North-western provinces and in Galle, Matara, Kandy and Nuwara-Eliya districts. Showers or thundershowers may occur at a few places in the Uva province and in Ampara and Batticaloa districts after 2.00 p.m.

Fairly strong winds about (30-40) kmph can be expectedat times over the Western slopes of the central hills, the Northern, North-central, North-western and Southern provinces and in Trincomalee district.

The general public is kindly requested to take adequate precautions to minimize damage caused by temporary localized strong winds and lightning during thundershowers.