‘June 30 declared a bank holiday to complete DDR process’

Governor of the Central Bank Dr. Nandalal Weerasinghe said that in consultation with the government and the Ministry of Finance, it has been decided to declare June 30, a bank holiday.

The reason for declaring June 30 a bank holiday was to complete the domestic debt restructuring (DDR) process, the Central Bank Governor said while calling a special press conference recently.

The Governor explained that a period of time is needed for the full implementation of the DDR process and for this, Cabinet approval, presentation to the Parliament and discussion in Parliamentary Committees are required.

Accordingly, it is expected to complete the DDR process during the five-day long bank holiday period, inclusive of June 30.

He further stated that no deposit in any bank in the country will be harmed in the process of restructuring domestic debt.

The five-day bank holiday period includes June 29, for Hajj festival, June 30, July 1 Saturday, July 2 Sunday and Esala Poya on Monday, July 3.