Proposal to set up national reinsurer comes under fire
The recent budget has proposed to make it
mandatory for 50% of reinsurance business of all insurance companies
to be done with the National Insurance Trust Fund. According to
experts, this move has been taken to restrict the outflow of foreign
exchange. But if a major disaster such as a tsunami occurs who will
bear the loss? It will have to be paid from the taxpayers money.
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Indian Bank marks 75 years, moves to Sir Baron Jayatillake
Mawatha
A Comprehensive Economic Agreement is to be
signed shortly between India and Sri Lanka, and to go with it,
joint-ventures between the island and subcontinent are expected to
get off the ground. Indian Bank Colombo, wants to play a part as a
financier for these joint enterprises.
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More benefits for microfinance companies soon
A regulatory Act for the microfinance sector
will benefit microfinance institutions and the SME sector, said
David Bartocha, Junior Expert - German Technical Cooperation (GTZ)-ProMis
addressing a workshop on Global Trends in Microfinance organised by
the ILO at the HNB Towers on Tuesday.
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