People’s Bank of Sri Lanka removed from Chinese Embassy blacklist

People’s Bank of Sri Lanka has been removed from the blacklist of the Economic and Commercial Office of the Embassy of People’s Republic of China.

People’s Bank was blacklisted by the Economic and Commercial Office of the Chinese Embassy in Sri Lanka for failing to make the payment according to the Letter of Credit and the contracts between two parties.

However, following the payment to Qingdao Seawin Biotech Group Co., Ltd. in accordance with L/C terms with the clearance from the courts, the People’s Bank has been removed from the blacklist.