Mon, 04 Jul 2022 Today's Paper

Interest galore for Colombo International Finance Centre

12 January 2016 03:22 am - 0     - {{hitsCtrl.values.hits}}

A A A

Finance Minister Ravi Karunanayake says over 50 local and foreign financial institutions have expressed their desire to link up with the Colombo International Finance Centre (CIFC), which is to be established as per the 2016 Budget proposals. According to the minister, the activities of the CIFC will commence in April this year. 

The countries in the SAARC region, where nearly 25 percent of the world population live, can acquire special benefits and concessions through the CIFC, he pointed out.  The Finance Minister also pledged to shut out unscrupulous elements earning money through illegal and unlawful means from the CIFC.
The proposed centre is to be established on D.R. Wijewardane Mawatha, Colombo in a 300,000 square feet area. Sri Lanka’s geographical location is a key factor in establishing this centre and it mainly targets the SAARC region, which is home to more than one fourth of the entire world population, and it is to be equipped with all facilities required for the smooth functioning of such a centre. 

Special physical and digital infrastructure and human capital as well as the necessary legal and regulatory framework of the centre will be put in place by the Sri Lankan government. 

It is expected to be on par with Dubai’s International Finance Centre and other similar centres throughout the world. 

A commercial court to resolve commercial disputes expeditiously and in a transparent manner in compliance with the regulatory requirements of the finance sector will be an integral part of the proposed CIFC. 
Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.

  Comments - 0

Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.


Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.