Srilanka, July 4 -- The Central Bank of Sri Lanka (CBSL) has initiated resolution action against Nation Lanka Finance PLC (NLFP), effective July 4, 2025, due to continuous violations of the Finance Business Act No. 42 of 2011 and related regulatory directives. The company has been facing a deteriorating financial position marked by capital deficiencies, poor asset quality, ongoing losses, and failure to repay depositors.Sri Lankan fashion

Despite multiple extensions granted by CBSL to comply with regulations, NLFP made no satisfactory progress. As a result, CBSL has appointed Mr. P.W.D.N.R. Rodrigo as Administrator of NLFP for six months under the Banking (Special Provisions) Act No. 17 of 2023. The Administrator will assume full contro...