Amendments to Banking Act No. 30 of 1988 to be gazetted
The Cabinet of Ministers approved the proposal presented by the President in his capacity as the Minister of Finance, Economic Stabilization and National Policies to publish the bill amending the Banking Act No. 30 of 1988 (including provisions to strengthen the existing regulatory standards in areas including Issuance of bank licenses, bank ownership, joint supervision, capital and liquidity framework, maximum credit facilities available and related party transactions) which has been prepared by the Legal Draftsman and received the clearance of the Attorney General, in the Government Gazette and to submit it to the parliament consequently for approval.
