Capital Markets

The Sri Lankan capital markets are recovering after a period of great change and a measure of controversy. Stocks boomed when the civil war ended, only to fall back as regulation and regulators were unable to keep up with the surge in activity, and manipulation and unfair dealing were alleged. With a new government in power, the apparent wrongs of the past are being addressed and a roadmap for the future is being drawn. Legislation is changing, with rules updated and key market infrastructure under development. At the same time, an overhaul of the exchange and the regulator is under way. These efforts are seen as vital to the future of the country, as efficient, effective and fair capital markets are needed to attract and deploy the capital Sri Lanka needs.

This chapter contains interviews with Rajeeva Bandaranaike, CEO, Colombo Stock Exchange; and Dilshan Wirasekara, CEO, First Capital Holdings.