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Press briefing of Cabinet Decision taken on 2013-08-15
Proposed Amendment of the People’s Bank Act No. 29 of 1961, to increase its Share Capital

- over the years, the People's Bank has expanded its branch network throughout the country with the objective of strengthening its business operations in the region.  The proposal made by H.E. the President, in his capacity as the Minister of Finance and Planning, to instruct the Legal Draftsman to draft amending legislation to increase the Share Capital of the Bank, was approved by the Cabinet.