Sri Lanka, Feb. 27 -- The Central Bank of Sri Lanka (CBSL) has issued a warning against the use of word 'Finance' in business names.

Accordingly, the CBSL clarified that the use of the word 'Finance' is in contravention of the provisions of the Finance Business Act, No. 42 of 2011, as per Section 10(2) of the Finance Business Act, No. 42 of 2011 (the Act), which states that no person, other than a finance company and an institution specified in Section 10(6) of the Act, shall use the terms 'finance', 'financing', or 'financial' alone or in combination with another word or any of its derivatives or its transliterations or their equivalents in any language, as part of the name or the description or the business name of such person without ...