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Sri Lanka's Amana Bank gets 6-month extension to raise capital

Sri Lanka's central bank has granted Amãna Bank Plc a six-month extension so it could raise its core capital to 7.5 billion Sri Lankan rupees from Jan. 1 to June 30.

The bank said Jan. 30 that it is required to further increase its capital to 10 billion rupees by Jan. 1, 2018.

The lender is in talks with Islamic Corporation for the Development of the Private Sector to seek participation in a proposed issue of shares.

As of Jan. 30, US$1 was equivalent to 150.29 Sri Lankan rupees.