Banking (Special Provisions) Bill passed with amendments

The Banking (Special Provisions) Bill was passed in Parliament a shot while ago.

Accordingly, the Bill was passed in Parliament, with amendments, today (21 July).

Taking to Twitter on the matter, Acting Minister of Finance Shehan Semasinghe explained that the Bill was passed in a bid make improvements in the resolution framework towards strengthening financial safety net measures, so as to ensure the stability of the financial system, and protect public funds and depositors. 

“This will create a more stable and resilient financial system and protect the interests of all stakeholders, including depositors, investors, and the broader public’, he said in this regard.