FINANCIAL CHRONICLE – The Central Bank of Sri Lanka has announced the cancellation of Pan Asia Bank’s Primary Dealer License, effective October 23, 2025. According to a statement released by the bank, this decision will not impact its regular banking operations or its trading activities in the secondary market.
The cancellation was enforced under the Registered Stock and Securities Ordinance and the Local Treasury Bills Ordinance. Pan Asia Bank’s primary dealer license had been under suspension since August 2017 due to its involvement in transactions with Perpetual Treasuries Ltd. These transactions were part of a securities fraud that led to financial losses for the state and the Employees’ Provident Fund, which is a retirement savings fund for private sector employees.
(Colombo/Jan30/2026)
