The Board of Directors of Merchant Bank of Sri Lanka & Finance PLC (MBSL) has resolved to grant approval in principle for the proposed sale of MBSL's entire shareholding (53.81%) in MBSL Insurance Company Limited (MBSLI). This decision was made during a meeting held on 11th July 2024.

The proposed sale is contingent upon obtaining the necessary regulatory approvals from the Insurance Regulatory Commission of Sri Lanka and the Central Bank of Sri Lanka. Additionally, the sale must comply with procedural steps outlined in the Shareholders Agreement between the shareholders of MBSLI.