The Monetary Board of the Central Bank of Sri Lanka, acting in terms of the Regulations made under the Registered Stock and Securities Ordinance and the Local Treasury Bills Ordinance, has decided to extend the suspension of business and activities of the Primary Dealer Unit of Pan Asia Banking Corporation PLC (PABC) for a period of six months with effect from 10.00 a.m. on 15th August 2019, in order to continue the investigations being conducted by the Central Bank of Sri Lanka.

The Central Bank wishes to emphasize that this regulatory action suspends PABC’s access to the primary auctions for government securities. It does not affect any of the other activities/services of PABC.

Electronic payment (e-payment) methods, such as real-time interbank fund transfers from customer current and savings accounts as well as card payment facilities, have provided a great convenience to customers. Sri Lanka’s payment systems and infrastructure meet international security standards to ensure the safety of customer funds. In order to continuously enjoy these facilities customers must adhere to adequate safety measures when making e-payments. Accordingly, customers should exercise caution when sharing any information that can be used to access and use their current or savings accounts, payment cards or electronic wallets (e-wallets).