Cabinet has decided to establish the legal and regulatory frame for obtaining the euroclearing facility for Sri Lankan Securities.This is to provide direct and unobstructed access for foreign investors to the Government’s Security Market.
Euroclearing will help in popularising government’s securities among foreign investors, minimizing complexity of transactions, and in reducing the cost. In addition the Cabinet also approved the proposal made by Industry and Commerce Minister Rishad Bathiudeen to present ‘Companies (Secretaries) Regulations’, published in gazette for enabling members of Institute of Certified Management Accountant of Sri Lanka to be registered as Company Secretaries, in parliament for approval.
0 comments: