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The bond scam is also regarded as the largest reported financial scam in Sri Lanka despite the country's reputation of having a solid visionary banking system over the years. [ 2 ] [ 3 ] This was a major blow to the Sri Lankan economy and was also major setback to the newly elected government under the leadership of Maithripala Sirisena which ...
The Financial Crimes Investigation Division was formed on 26 February 2015 under the purview of Sri Lanka Police Service. FCID is directly responsible in handling the investigations on the corruption charges against the Rajapaksa Administration and the public service that involved in large-scale corruption which led to destabilize the Government revenue.
Dialog Telekom made history on the first trading day when trading commenced at a price of LKR 14.25 making Dialog Telekom the first Sri Lankan Company to reach the US$1 billion market capitalization mark. In 2005 December, Dialog Telekom Acquired 100% stake of MTT Network Pvt Ltd for LKR 1.86 Billion (US$19.2 million).
The Sri Lankan economic crisis[8] is an ongoing crisis in Sri Lanka that started in 2019. [9] It is the country's worst economic crisis since its independence in 1948. [9] It has led to unprecedented levels of inflation, near-depletion of foreign exchange reserves, shortages of medical supplies, and an increase in prices of basic commodities. [10]
The Sri Lanka Army is the oldest and largest of Sri Lanka's three armed services. Established as the Royal Ceylon Army in 1949, it was renamed when Sri Lanka became a republic in 1972. The Army of approximately 255,000 regular and reserve personnel including 90,000 National Guardsmen and is responsible for overseeing land-based military and ...
Ceylinco Consolidated. The Golden Key Credit Card Company (GKCCC) was a leading Sri Lankan financial institution specializing in credit card services, and a subsidiary of the Ceylinco Consolidated. [2] Founded on June 3, 1977, it was a wholly-owned subsidiary of the Ceylinco Group, an extensive conglomerate with more than 300 subsidiaries.
Corruption in Sri Lanka is considered as an ongoing serious national issue which has dampened economic growth and lowered quality of life for most Sri Lankans. High income inequality/disparity and increased poverty have contributed to the prevalent corruption culture in Sri Lanka. Corruption has always been a hot topic in Sri Lanka and has been ...
LECO partnered with the University of Moratuwa to begin a microgrid pilot project in Sri Lanka with financial assistance from the Asian Development Bank.The aim of the project is to contribute to Sri Lanka's stated target of 70% of power generation through renewable sources by 2030. 32,411 rooftop solar units have already been installed in the country as of April 2021, with a total capacity of ...