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» CIFC Dumps to Expand Your Possibilities to Pass Your Exam
Banking Sector - Page 3 EmptyFri Jul 19, 2024 10:30 am by faithhharris

» CCS.N0000 ( Ceylon Cold Stores)
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» When Will It Be Safe To Invest In The Stock Market Again?
Banking Sector - Page 3 EmptyWed Apr 19, 2023 6:41 am by කිත්සිරි ද සිල්වා

» Dividend Announcements
Banking Sector - Page 3 EmptyWed Apr 12, 2023 5:41 pm by කිත්සිරි ද සිල්වා

» MAINTENANCE NOTICE / නඩත්තු දැනුම්දීම
Banking Sector - Page 3 EmptyThu Apr 06, 2023 3:18 pm by කිත්සිරි ද සිල්වා

» ඩොලර් මිලියනයක මුදල් සම්මානයක් සහ “ෆීල්ඩ්ස් පදක්කම” පිළිගැනීම ප්‍රතික්ෂේප කළ ගණිතඥයා
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» SEYB.N0000 (Seylan Bank PLC)
Banking Sector - Page 3 EmptyThu Mar 30, 2023 9:25 am by yellow knife

» Here's what blind prophet Baba Vanga predicted for 2016 and beyond: It's not good
Banking Sector - Page 3 EmptyThu Mar 30, 2023 9:25 am by HaeroMaero

» The Korean Way !
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» In the Meantime Within Our Shores!
Banking Sector - Page 3 EmptyMon Mar 27, 2023 5:51 pm by කිත්සිරි ද සිල්වා

» What is Known as Dementia?
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» SRI LANKA TELECOM PLC (SLTL.N0000)
Banking Sector - Page 3 EmptyMon Mar 20, 2023 5:18 pm by කිත්සිරි ද සිල්වා

» THE LANKA HOSPITALS CORPORATION PLC (LHCL.N0000)
Banking Sector - Page 3 EmptyMon Mar 20, 2023 5:10 pm by කිත්සිරි ද සිල්වා

» Equinox ( වසන්ත විෂුවය ) !
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» COMB.N0000 (Commercial Bank of Ceylon PLC)
Banking Sector - Page 3 EmptySun Mar 19, 2023 4:11 pm by කිත්සිරි ද සිල්වා

» REXP.N0000 (Richard Pieris Exports PLC)
Banking Sector - Page 3 EmptySun Mar 19, 2023 4:02 pm by කිත්සිරි ද සිල්වා

» RICH.N0000 (Richard Pieris and Company PLC)
Banking Sector - Page 3 EmptySun Mar 19, 2023 3:53 pm by කිත්සිරි ද සිල්වා

» Do You Have Computer Vision Syndrome?
Banking Sector - Page 3 EmptySat Mar 18, 2023 7:36 am by කිත්සිරි ද සිල්වා

» LAXAPANA BATTERIES PLC (LITE.N0000)
Banking Sector - Page 3 EmptyThu Mar 16, 2023 11:23 am by කිත්සිරි ද සිල්වා

» What a Bank Run ?
Banking Sector - Page 3 EmptyWed Mar 15, 2023 5:33 pm by කිත්සිරි ද සිල්වා

» 104 Technical trading experiments by HUNTER
Banking Sector - Page 3 EmptyWed Mar 15, 2023 4:27 pm by katesmith1304

» GLAS.N0000 (Piramal Glass Ceylon PLC)
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» Cboe Volatility Index
Banking Sector - Page 3 EmptyTue Mar 14, 2023 5:32 pm by කිත්සිරි ද සිල්වා

» AHPL.N0000
Banking Sector - Page 3 EmptySun Mar 12, 2023 4:46 pm by කිත්සිරි ද සිල්වා

» TJL.N0000 (Tee Jey Lanka PLC.)
Banking Sector - Page 3 EmptySun Mar 12, 2023 4:43 pm by කිත්සිරි ද සිල්වා

» CTBL.N0000 ( CEYLON TEA BROKERS PLC)
Banking Sector - Page 3 EmptySun Mar 12, 2023 4:41 pm by කිත්සිරි ද සිල්වා

» COMMERCIAL DEVELOPMENT COMPANY PLC (COMD. N.0000))
Banking Sector - Page 3 EmptyFri Mar 10, 2023 4:43 pm by yellow knife

» Bitcoin and Cryptocurrency
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» CSD.N0000 (Seylan Developments PLC)
Banking Sector - Page 3 EmptyFri Mar 10, 2023 10:38 am by yellow knife

» PLC.N0000 (People's Leasing and Finance PLC)
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» Bakery Products ?
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» NTB.N0000 (Nations Trust Bank PLC)
Banking Sector - Page 3 EmptySun Mar 05, 2023 7:24 am by කිත්සිරි ද සිල්වා

» Going South
Banking Sector - Page 3 EmptySat Mar 04, 2023 10:47 am by කිත්සිරි ද සිල්වා

» When Seagulls Follow the Trawler
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» Re-activating
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» අපි තමයි හොඳටම කරේ !
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» මේ අර් බුධය කිසිසේත්ම මා විසින් නිර්මාණය කල එකක් නොවේ
Banking Sector - Page 3 EmptyTue Jan 03, 2023 6:43 pm by ruwan326

» SAMP.N0000 (Sampath Bank PLC)
Banking Sector - Page 3 EmptyWed Nov 30, 2022 8:24 am by කිත්සිරි ද සිල්වා

» APLA.N0000 (ACL Plastics PLC)
Banking Sector - Page 3 EmptyFri Nov 18, 2022 7:49 am by කිත්සිරි ද සිල්වා

» AVOID FALLING INTO ALLURING WEEKEND FAMILY PACKAGES.
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» Banks, Finance & Insurance Sector Chart
Banking Sector - Page 3 EmptyTue Nov 15, 2022 5:26 pm by කිත්සිරි ද සිල්වා

» VPEL.N0000 (Vallibel Power Erathna PLC)
Banking Sector - Page 3 EmptySun Nov 13, 2022 12:15 pm by කිත්සිරි ද සිල්වා

» DEADLY COCKTAIL OF ISLAND MENTALITY AND PARANOID PERSONALITY DISORDER MIX.
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» WATA - Watawala
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» KFP.N0000(Keels Food Products PLC)
Banking Sector - Page 3 EmptySat Nov 05, 2022 8:42 am by කිත්සිරි ද සිල්වා

» Capital Trust Broker in difficulty?
Banking Sector - Page 3 EmptyFri Oct 21, 2022 5:25 pm by කිත්සිරි ද සිල්වා

» IS PIRATING INTELLECTUAL PROPERTY A BOON OR BANE?
Banking Sector - Page 3 EmptyThu Oct 20, 2022 10:13 am by කිත්සිරි ද සිල්වා

» What Industry Would You Choose to Focus?
Banking Sector - Page 3 EmptyTue Oct 11, 2022 6:39 pm by කිත්සිරි ද සිල්වා

» Should I Stick Around, or Should I Follow Others' Lead?
Banking Sector - Page 3 EmptyTue Oct 11, 2022 9:07 am by කිත්සිරි ද සිල්වා

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24 posters

    Banking Sector

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    • Post n°51

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    Post by yellow knife Tue Dec 01, 2015 3:30 pm

    Thanx ET

    However the new economists of Korea did many other market reforms to curb Chaebols. Its like trying to crush crony capitalists in SL now.

    New Korean Administration under Chun Doo Hwan developed stock market. In return they expected that market will discipline Chaebols. But getting listed made Chaebol access to low cost funds and to retain family ownership and to free from new banking restrictions. 

    NBFI sector was liberalized. Allowed to multiply in growth these institutions offered higher interest rates than banks and increased their share of deposits from 25% in 1976 to a dominant 63% in 1989.

    If 100% deposit guaranteeing is ensured in Sri Lanka we can see a similar shift of deposit base from banks to NBFI sector.

    Unlike banks, Chaebols achieved the direct control of many NBFIs- a dangerous development.


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    Even in Sri Lanka our Holding Companies own NBFIs . So if you consider following as big holding companies of Sri Lanka , most of them own their own NBFI. Richard Pieris started their finance company Arpico Richard Pieris Fiance and its not a listed company. Softlogic owns Softlogic Finance. JKH which is missing in the list own NTB a bank. LOLC another holding company missing in the chart is basically into finance.
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    • Post n°52

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    Post by yellow knife Tue Dec 01, 2015 3:53 pm

    The Korean situation did not run out of control until 1993. When Kim Young-Sam's government was persuaded by IMF and its own pro-free market economists to lift capital controls and deregulate short-term offshore borrowing the Korean situation started to shatter. With this a flood of shot-maturity foreign debt coming into Korea between 1994-1997.

    [You must be registered and logged in to see this image.] President Kim Young-Sam
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    • Post n°53

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    Post by yellow knife Tue Dec 01, 2015 4:05 pm

    Despite this, the fact that a relatively smaller proportion of credit in Korea had been directed to non-productive activities like real estate. Therefore country recovered fast and strongly in 1999.

    As with earlier crises, government orchestrated mergers and business unit swaps among the Chaebol in order to pare outperforming subsidiaries. It was in this shake-out that Chung Ju Yung's Huyndai acquired Kia.

    The difference in this crisis is Korea for the first time had to heed IMF and do structural changes in the financial system.

    Thus Korea got more Independence for Central Bank, wholly independent commercial banks, large foreign controlled banks and much increased rights for independent investors of share market.

    Despite wobbles as happened in year 2000 so far the deregulated system has not produced another crisis.

    However these precise timing of transmissions helped the country and delaying to heed Anglo-Saxon financial system was healthy for Koreans.
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    • Post n°54

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    Post by yellow knife Tue Dec 01, 2015 4:13 pm

    Chaebols remain powerful even now

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    • Post n°55

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    Post by yellow knife Tue Dec 01, 2015 4:21 pm

    Patriotism is a concept that a country should promote among its citizens.

    Since General Park Chun Hee era, monuments of ancient war heroes were erected to create patriotism among its citizens. Movies , songs and literature is used to promote patriotism.

    In a crisis ( be it financial or otherwise) it is the patriotic people who comes first to sacrifice.

    Korean Citizens donated Gold to State to overcome financial crisis and it is the first time it happened ever in the world.

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    In 1997, many countries in Asia’s Pacific Rim suffered from a massive financial crisis which threatened to spread across the world. Foreign debt to GDP ratios exceeded 180% at the peak of the crisis.Six different nations felt the economic struggles as capital fled their countries, and the International Monetary Fund provided $40 billion (U.S.) to help keep South Korea, Thailand, and Indonesia afloat. As economies got more and more troubled, governments tried more and more ideas.
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    • Post n°56

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    Post by yellow knife Tue Dec 01, 2015 4:22 pm

    In January of 1998, South Korea began a campaign called “Collect Gold for the Love of Korea.” At the time, South Koreans, collectively, owned a total of 2,000 tons of gold then worth about $20 billion. That would have gone a long way to lessen the debt burden the country was suffering from. But gold, being hard to track and therefore hard to confiscate, could not simply be collected by edict and threat of force. (And even if it could, it was unlikely that the public would go for it.) So South Korea took another approach. The government simply asked its citizens to turn in their gold voluntarily


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    • Post n°57

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    Post by yellow knife Tue Dec 01, 2015 4:24 pm

    We in Sri Lanka, specially our unions create a view that employer and large firms are bad. Even the FM use the term crony capitalist.

    But in Korea, its the same Chaebols that come forward in a time of crisis.

    On January 5, 1998, the program launched with the support of three major corporations (Samsung, Daewoo, and Hyundai) collecting and donating gold, thereby showing that this was not just the government getting involved. The BBC, as the program was in full swing, noted that “housewives gave up their wedding rings; athletes donated medals and trophies; many gave away gold ‘luck’ keys, a traditional present on the opening of a new business or a 60th birthday.” Within the first two days of the program, per the AP, over 100,000 South Koreans donated north of 20 tons of gold worth over $100 million. The response was so great that officials stopped announcing the results of the gold collection. Due to the amount of gold newly on the market, they feared too that the donations would soften international gold prices.


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    • Post n°58

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    Post by yellow knife Tue Dec 01, 2015 4:25 pm

    It is likely that, in total, roughly $150 to $200 million in gold was collected — a small and probably meaningless dent in the country’s debt, given that the country received a bailout in excess of $50 billion. But the symbolic aspect resonated, as Korean citizens realized the gravity of the crisis and rallied, showing a willingness to accept other efforts to help. By the end of 1999, South Korea believed the economic slowdown over


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    • Post n°59

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    Post by blacknights Tue Dec 01, 2015 5:17 pm

    Important lessons from Korea's past. Thank you yellow knife. I really liked the part of the article where it explains how patriotism and unselfishness contribute towards collective economic prosperity. This must be the way forward for our country too.
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    • Post n°60

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    Post by pjrngroup Wed Dec 02, 2015 8:54 am

    Thank you so much YK for sharing this valuable things.

    I am thinking how can we teach this to  the politicians in our parliament. there are few who can understand this in our parliament, but there are more who can't understand at all.

    one of  the good move that the President called upon  the professionals living aboard to  come back to  our country, it  is some sort of Patriotism coming from the  head of the state.

    Many professionals  left the county because of the war and during previous regime and be part of other's country's development.

    We need a attitude change.
    We need to  educate our young generation.  

    The change should come from the top. so then people will follow.

    I am not a supporter of any political group.
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    • Post n°61

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    Post by slstock Wed Dec 02, 2015 9:08 am

    Pjrngroup:

    Some good points you made.

    1) Some issues like "upon  the professionals living aboard to  come back to  our country, it  is some sort of Patriotism coming from the  head of the state. "

    Hmm, that am notsure. But this matter is something that should be discussed in deep.
    Asking only will not help. There are deeper issues that needs to be addressed.


    2)
    "We need a attitude change.
    We need to  educate our young generation.  

    The change should come from the top. so then people will follow.

    I am not a supporter of any political group."


    Glad you started commenting.


    YK,

    keep the good info coming in the thread. Thank you.

    pjrngroup wrote:Thank you so much YK for sharing this valuable things.

    I am thinking how can we teach this to  the politicians in our parliament. there are few who can understand this in our parliament, but there are more who can't understand at all.

    one of  the good move that the President called upon  the professionals living aboard to  come back to  our country, it  is some sort of Patriotism coming from the  head of the state.

    Many professionals  left the county because of the war and during previous regime and be part of other's country's development.

    We need a attitude change.
    We need to  educate our young generation.  

    The change should come from the top. so then people will follow.

    I am not a supporter of any political group.


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    • Post n°62

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    Post by pjrngroup Wed Dec 02, 2015 9:28 am



    SLS,



    1)''Hmm, that am notsure. But this matter is something that should be discussed in deep.
    Asking only will not help. There are deeper issues that needs to be addressed.''


    Yes I totally agree with you, asking only will not help, but there is a starting point, they have to continuously work on that matter as you have said ''There are deeper issues that needs to be addressed.''

    2)
    "We need a attitude change.
    We need to  educate our young generation.  

    The change should come from the top. so then people will follow.

    I am not a supporter of any political group."


    Glad you started commenting. ''


    Thank you for your appreciation.

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    • Post n°63

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    Post by yellow knife Wed Dec 02, 2015 9:55 am

    1.  view on asking professionals abroad to come back.

    Israelite call it brain circulation. So you work abroad and come back do your contribution capital and technology and go back..

    Chinese use the term Sea Turtle. ( for me that's a nonsense term.. Turtle are anyway sea based and tortoise is  land based.. Yet even in Disney cartoons turtle is used for land based) .. As per Chinese the turtle return back to the place it was born after many years to visit..to lay eggs on the same spot...etc..
    Chinese intellectuals who got education elsewhere specially US return back in late 30s of their life to contribute back.
    Zhou the Governor of People's Bank of China ( their Central Bank) is a sea turtle.

    2. Attitude issue...

    educate the young... That's what I am doing.. When I was in grade 5 there was a Knowledge Competition in Mihira Paper organized by China Friends society.

    Who is Sun-Yat Sen, What is Kuo min tang were the questions that I answered properly thanks to the books available for me to read in Sinhala then..(my parents and grand parents of both sides were teachers)..So like a Jew Family we had access to books and not internet or Wikipedia then. i won the knowledge contest...Today grade 5 Children must be more knowledgable than us then thanx to Internet  , aren't they ?
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    Post by කිත්සිරි ද සිල්වා Wed Dec 02, 2015 10:09 am

    Do we have the right environment for foreign educated to return back?


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    Post by slstock Wed Dec 02, 2015 10:11 am

    No.

    කිත්සිරි ද සිල්වා wrote:Do we have the right environment for foreign educated to return back?


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    Post by කිත්සිරි ද සිල්වා Wed Dec 02, 2015 10:31 am

    I will tell you another story now.
    My sister in law holds two doctorates (transport / construction related) from two of the best universities in USA and she was asked by Mrs Athulathmudali to come and help her during her tenure as a minister.
    She refused because, if comes she will be treated as a political appointee and she will the first one to get the axe when Mrs A loses her position in politics.
    She is still a housewife and wants to help the country but the prevailing situation does not allow her or others in similar situation to think of returning back.

    slstock wrote:No.

    කිත්සිරි ද සිල්වා wrote:Do we have the right environment for foreign educated to return back?


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    Post by yellow knife Wed Dec 02, 2015 10:45 am

    A professor came to head State Engineering Corporation under MR regime and then the ministry was under Wimal. Now the same professor is a minister from National List of UNP
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    Post by yellow knife Thu Dec 03, 2015 7:26 am

    Ok...after interval lets get back to banking studies.

    This time its Taiwan. So far we discussed about Japanese and Korean banking system. Yet Taiwan is another different story.

    Now to start up about Taiwan that's an island near China. When Chinese Communists took power its Nationalists split and under the leadership of Chiang Kai Shek fled to Taiwan and became rulers of this tiny island with the hope of capturing China back one day.

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    Quote from Wikipedia

    Chiang's government and army retreated to Taiwan, where Chiang imposed martial law and persecuted people critical of his rule in a period known as the "White Terror". After evacuating to Taiwan, Chiang's government continued to declare its intention to retake mainland China. Chiang ruled Taiwan securely as President of the Republic of China and General of the Kuomintang until his death in 1975

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    Post by yellow knife Thu Dec 03, 2015 7:54 am

    Taiwans  took the most conservative approach to financial management. Compared with Korea, there were higher interest rates, higher savings rates and ( hence domestic money to invest with less need for foreign borrowing ), lower inflation, far fewer non performing loans and nothing like the repeate3d banking and balance of payment crisis. Even the Asian Financial crisis pass Taiwan by. Yet Taiwan lost its considerable GDP per capita lead over Korea in the 1990s and by 2010 was USD 2000 behind.


    GDP per capita (1980-2011)
    South Korea vs Zhejiang; Taiwan vs Shanghai

    Population
    South Korea & Zhejiang - 50 mil
    Shanghai & Taiwan - 20 mil

    Unit: USD
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    Data source
    Taiwan & South Korea - IMF database
    Shanghai & Zhejiang - NBS of China
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    Post by yellow knife Thu Dec 03, 2015 8:02 am

    I know that reading below is not interesting.
    So why not use following link that compare and contrast South Korea, Japan and Taiwan in a nice PDF uploaded by someone-else . Its the same three countries we have discussed is summarized and presented nicely.

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    =================================

    10/14/2015
    6
    [size=33]Similarities and Differences with[/size]
    [size=33]Japan[/size]
    •
    Growth with economic equity and recent rise in inco
    me
    gap
    •
    High emphasis on (primary and secondary) education
    •
    Openness toward foreign knowledge/technology
    •
    Chaebol
    （財閥
    ,
    재벌
    ）
    vs. Keiretsu
    （系列）
    
    Chaebol’s economic and political roles
    
    The extent of government control
    
    Role of the press
    
    Debt-based vs. equity-based financial relationships
    
    Behavior of risk taking, moral hazard
    •
    Low fertility rate
    •
    Low women participation rate
    •
    Rising labor cost; “sandwich economy”?
    10/14/2015
    7
    [size=30]Capital flows: Korea, China, and[/size]
    [size=30]Japan[/size]
    -.5
    -.4
    -.3
    -.2
    -.1
    0
    % of GDP
    1970
    1980
    1990
    2000
    2010
    year
    Net Portfolio Inv. (% of GDP) Net FDI (% of GDP)
    Net debt (% of GDP)
    Korea's K-flows
    -.2
    0
    .2
    .4
    % of GDP
    1970
    1980
    1990
    2000
    2010
    year
    Net Portfolio Inv. (% of GDP) Net FDI (% of GDP)
    Net debt (% of GDP)
    Japan's K-flows
    -.3
    -.2
    -.1
    0
    .1
    % of GDP
    1970
    1980
    1990
    2000
    2010
    year
    Net Portfolio Inv. (% of GDP) Net FDI (% of GDP)
    Net debt (% of GDP)
    China's K-flows
    Higher and more volatile inflation in Korea
    10/14/2015
    13
    [size=33]Similarities b/w Korea and Taiwan[/size]
    •
    Neighboring a communist nation
    •
    Political and geopolitical complexity + Long period
    of
    political restriction
    •
    Fuzzy relationship with the U.S. (recently for Kore
    a,
    historically for Taiwan)
    •
    Complex relationship with Japan (historically for
    Korea; recently for Japan?)
    •
    Complex relationship with China
    •
    High growth with economic equity
    •
    Productivity improvement in the agricultural sector
    occurred as a result of land reform, yielding excess
    labor that can be absorbed by the manufacturing
    sector
    [size=33]Similarities b/w Korea and Taiwan[/size]
    •
    Early abandonment of ISI
    •
    Small domestic market
    •
    Little natural resources
    •
    Reduction in U.S. aid
    •
    Higher dependency on exports than Japan
    •
    Follow industrialization process; industries for wh
    ich
    Japanese labor becomes expensive tend to migrate
    to Korea or Taiwan
    •
    Traditionally, imports from Japan and exports to the
    U.S.
    •
    Currently, China is the largest trading partner for
    both
    •
    Current account surplus against the U.S.
    •
    Protectionist policy in the agricultural sector
    10/14/2015
    14
    [size=33]Differences b/w Korea and Taiwan[/size]
    •
    Ethnic homogenuity vs. Ethnic rifts
    •
    Government’s initiatives in industrial policy and i
    ts
    relations with the private sector
    •
    Corporate finance: more dependency on bank lending
    in Korea than in Taiwan
    •
    Despite different paths of financial development,
    both lagged in developing and applying appropriate
    risk management
    •
    Corporate finance: more reliance on capital markets
    in Taiwan
    •
    Public fin. institutions did not play an important
    role
    in Taiwan
    [size=33]Differences b/w Korea and Taiwan[/size]
    •
    Chaebol-oriented vs. SMEs-oriented
    •
    More stable macroeconomic management in Taiwan
    (e.g. inflation, public finance)
    •
    Taiwan: Much less reliance on foreign K
    •
    Taiwan: More favorable S-I balance
    •
    Korea: More active in financial liberalization in t
    he
    1990s (esp. FDI)
    •
    More active labor unions in Korea
    •
    Chaebols vs. mobs
    •
    “Hollowing out” of industries to China
    10/14/2015
    15
    [size=33]Characteristics of Taiwan’s miracle[/size]
    •
    IP in heavy industries in the early ’70s
    •
    Steel, petrochemical, shipbuilding
    •
    1975 – semiconductor project
    •
    Not so much public financing involved except for
    above
    •
    SMEs as major players
    •
    Horizontal relationship b/w corporations unlike ver
    tical
    relationships in Korea or Japan
    •
    Fluid labor markets, open to foreign knowledge
    •
    Firms are not so reliant on bank lending as in Kore
    a
    or Japan
    •
    Low debt ratio.
    •
    However, risk analysis isn’t not well-established.


    Last edited by yellow knife on Thu Dec 03, 2015 12:55 pm; edited 1 time in total
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    Post by කිත්සිරි ද සිල්වා Thu Dec 03, 2015 8:36 am

    Thanks YK.
    (The last post is in disarray & hope you will repost it soon).


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    Post by yellow knife Thu Dec 03, 2015 1:32 pm

    Above post is just a copy and paste of the PDF I mentioned. Anyway visiting the link you will get the real presentation of it. Thanks Kith and I will re arrange it.

    =======================================

    Unlike Korea, Taiwan relied mostly on small companies for export and manufacturing. As government was not directing and pushing the manufacturer its industrialist remain as a supplier to more powerful multinational corporations. This was not surprising as Kuomintang ( the ruling party) determination to keep most of the large-scale business under state ownership.

    Kuomintang nationalized the main Taiwanese banks to state well before it fled to the island from Mainland China. The Civil war in China in 1949 forced Kuomintang or the Nationalists to leave China to Communist Mao.

    In 1983 a researcher assembled and analyzed data of Korean and Taiwan bank loans and found

    1. In Korea 70% of the  entire bank credit was consumed by 400 Korean companies ( including 137 Chaebols)

    2. In Taiwan 333 Taiwan companies took only 30% of the entire  bank credit.

    Long-term strategic loans for private sector was not hardly flowing from Taiwan Banks.

    This is not the way loans are directed by MITI of Japan or EPB (Economic Planning Board ) of Korea.
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    • Post n°73

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    Post by malanp Fri Dec 04, 2015 8:43 am

    The president calling for professionals to come back to country is wrong.. it shows he himself does not know what  the country is.. 


    still Sri Lankan business enviornment, public and private both, is not suitable for foreign experienced, challenging professionals.


    it needs YES men, make his boss happy,, and less  challenging, less creative, and less straight talking professionals..a typical Sri Lankan made..
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    • Post n°74

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    Post by chutiputha Sat Dec 05, 2015 8:34 am

    How this will effect ? Razz

    The 2016 budget proposed to charge a certain amount on withdrawals of cash from banks. This proposal stated that a charge of two per cent would be imposed on cash withdrawals of Rs. 01 million to Rs. 10 million and three per cent on cash withdrawals of over Rs. 10 million.

    Accordingly, if a depositor withdraws Rs. 01 million from his/her deposits then he/she would have to pay the bank Rs. 20,000 as charges.
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    Post by slstock Sat Dec 05, 2015 8:43 am

    I presume this is for CASH only withdrawals.
    If you transfer online within account to account, asks for a bank Draft
    or say bills pay bills etc online its should not count?


    Anycase I saw banks have not been given a directive by Finance ministry yet.

    This can get tricky as their previous usual hasty proposals.

    How do you calculate ?

    What if someone needs Rs 1.2 million for house repair? Should he get taxed too?

    What if they need to withdraw Rs 2 laks in CAsh at a time for 6 times within 1 month

    Are they going to accumute it?




    chutiputha wrote:How this will effect ? Razz

    The 2016 budget proposed to charge a certain amount on withdrawals of cash from banks. This proposal stated that a charge of two per cent would be imposed on cash withdrawals of Rs. 01 million to Rs. 10 million and three per cent on cash withdrawals of over Rs. 10 million.

    Accordingly, if a depositor withdraws Rs. 01 million from his/her deposits then he/she would have to pay the bank Rs. 20,000 as charges.


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