Sri Lanka
Sri Lanka Islamic finance tops $1b assets but set to stay niche
Sri Lanka Islamic finance tops $1b assets but set to stay niche
Islamic banking accounted for only 1.3% of banking system assets.
Gold loan rules to hit Sri Lanka’s finance firms harder than banks
New rules order both to adopt similar risk weightings.
Sri Lanka cuts vehicle and gold loan caps to strengthen lender buffers
Motor car financing LTV cap is lower to 60%, whilst gold-backed lending LTV limit was reduced to 70%.
Alipay+ teams with LankaPay to push LankaQR payments
LankaQR is Sri Lanka’s national QR payment network.
Hatton National Bank enables debit cards on Google Wallet
Customers can now tap-to-pay using their phone or with smart watches.
Alipay+ goes live in Sri Lanka with 14 e-wallets enabled for payment
Travellers using the e-wallets can pay in over 400,000 merchants via LANKAQR.
UBC Chairman Nirvana Chaudhary aims for Top 5 spot in Sri Lanka’s banking sector
He says collaborations are key to driving the Union Bank of Colombo to the top.
Alipay+ now available for use in Sri Lanka
The app can now be used for payment in over 400,000 LankaQR merchants.
Sri Lanka’s NBFIs safe from risks after proposed gov’t debt restructuring plan
The plan does not directly impact the government debt holdings that NBFIs have stocked up on.
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