ECONOMYNEXT – Sri Lanka’s central bank (CBSL) has cancelled the finance business license of Nation Lanka Finance PLC (NLFP) with effect from July 3, and will proceed with winding up the company. The decision follows extensive, unsuccessful resolution efforts initiated in July 20…
ECONOMYNEXT – Sri Lanka’s central bank (CBSL) has cancelled the finance business license of Nation Lanka Finance PLC (NLFP) with effect from July 3, and will proceed with winding up the company. The decision follows extensive, unsuccessful resolution efforts initiated in July 2025 due to NLFP’s continuous violations of the Finance Business Act. Despite exploring structural options, acquisition possibilities, and seeking investor expressions of interest, the central bank noted that a sustainable outcome was not achieved, prompting the cancellation to protect stakeholders. The CBSL stated: “In light of the continued deterioration of the company’s financial position, and considering that the continuation of its current status would be further detrimental to the interests of depositors and other stakeholders, CBSL has decided, as a final step in the resolution process, to cancel the license issued to NLFP to carry on finance business with effect from 03.07.2026” The Sri Lanka Deposit Insurance Scheme will compensate insured depositors up to a maximum of Rs. 1,100,000 per depositor, fully settling approximately 99.1% of NLFP’s total depositors. (Colombo/July03/2026)