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Knock,
If we look at reality of Lanka, point 1-3 does not matter when there is an official/higher directive. ( In previous cases it was not mandatory , so there was ways to get away). But this time, since Gov is involved ( indiretly) somehow / some body will make it happen if they want to . I won't talk about ethics here ;-) I presume you get my point.
Point 4) Agreed. If they gave licenses without foresight ( or other reasons) , now when the problem is getting bigger (and there may be other political reasons) , the decision to merge suddenly become a directive .
I think CIFL crisis and blames on CB must have also triggered something for this decision
However, the validity theory (from what I understand) put here is , if some financial company gets stronger with balance sheets and bigger, it will grow in strength and less likely to crash.
To be frank, there were far too many financial companies in Sri Lanka. Quite to few were shaky and could have taken depositors for a ride in the future. This is a good move as long as it is done with transparency and fairness to shareholders.
If we look at reality of Lanka, point 1-3 does not matter when there is an official/higher directive. ( In previous cases it was not mandatory , so there was ways to get away). But this time, since Gov is involved ( indiretly) somehow / some body will make it happen if they want to . I won't talk about ethics here ;-) I presume you get my point.
Point 4) Agreed. If they gave licenses without foresight ( or other reasons) , now when the problem is getting bigger (and there may be other political reasons) , the decision to merge suddenly become a directive .
I think CIFL crisis and blames on CB must have also triggered something for this decision
However, the validity theory (from what I understand) put here is , if some financial company gets stronger with balance sheets and bigger, it will grow in strength and less likely to crash.
To be frank, there were far too many financial companies in Sri Lanka. Quite to few were shaky and could have taken depositors for a ride in the future. This is a good move as long as it is done with transparency and fairness to shareholders.
