Sri Lanka, July 6 -- The Central Bank of Sri Lanka has officially cancelled the finance business licence of Nation Lanka Finance PLC, effective July 3, 2026, moving to liquidate the chronically distressed firm after exhaustive restructuring efforts failed to yield a viable revival plan.
The banking regulator stated that the decisive action, taken under the Banking (Special Provisions) Act No. 17 of 2023, follows continuous violations of the Finance Business Act despite numerous regulatory interventions over the years. The licence cancellation marks the final step in a tumultuous resolution process that began in July 2025, when the Central Bank first stepped in and appointed an administrator to seize full control of the entity.
Prior to t...