Champa Brothers issued banking license
The Champa Brothers, pioneers in Maldives tourism, are teaming up with Sri Lanka’s Commercial Bank of Ceylon to open a bank in the Maldives.
17 May 2016, 9:00 AM
The Champa Brothers, pioneers in Maldives tourism, are teaming up with Sri Lanka’s Commercial Bank of Ceylon to open a commercial bank in the Maldives.
The banking licence for Commercial Bank of Maldives Pvt. Ltd was issued on Monday by the central bank.
Tree Top Investment, a consortium led by the Champa Brothers hold a 45 percent stake in the new bank. Other tourism businesses in the consortium include Kasa Holdings, Crown Company and Kuredu Holdings.
The Commercial Bank of Ceylon holds a 55 percent share in the venture.
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