Colombo Port City Economic Commission issues AP license to banks
The Colombo Port City Economic Commission (the Commission) announces that three of Sri Lanka’s leading commercial banks Commercial Bank, Hatton National Bank (HNB), and Sampath Bank have been issued an Authorized Persons (AP) license from the Colombo Port City Economic Commission.
This significant development marks a major milestone in the development of the Colombo Port City SEZ as a premier international business and services hub in South Asia—a world-class project that is transforming Sri Lanka’s economic landscape.
Furthermore, the Commission reiterates its strong commitment to collaborating with the Central Bank of Sri Lanka, the Securities and Exchange Commission, and the Insurance Regulatory Commission of Sri Lanka to ensure robust and streamlined guidelines are in place to drive the success of the Colombo Port City as a premier multicurrency, export of services SEZ.
“Banks such as HNB have a critical role to play in ensuring that this development reaches its maximum potential, by providing truly world-class integrated banking solutions that support all businesses who invest and operate in Port City Colombo” HNB Managing Director/CEO, Jonathan Alles stated.
The AP License was granted to HNB by the Colombo Port City Economic Commission following a series of strict evaluations, legal and preliminary regulatory approvals. “As a heritage brand within the Sri Lankan economy, we have been present at the inception of every major pillar of the nation’s economic development. We are proud to continue that legacy today, as one of the first banks to receive preliminary approvals to operate within the Port City Colombo. As a systemically important bank that is deeply integrated with all facets of the domestic economy, we see Port City Colombo opening-up unprecedented opportunities for the nation, and its corporates.
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