Duruthu E Chandrasekera
Duruthu Edirimuni Chandrasekera is a senior business journalist based in Sri Lanka with over 15 years of experience covering stock markets, banking and trade.
Articles by Duruthu E Chandrasekera
Anti-Money Laundering
Sri Lanka FIU Issues AML Guidelines for Legal Professionals
02/09/2023
Every legal professional is required to appoint a Compliance Officer to ensure compliance, and submit STRs to the FIU.
Conduct, Culture & Accountability
Sri Lanka Issues New Consumer Protection Regulations
24/08/2023
Aggressive sales practices, abusive debt recovery practices, and excessive fees and interest charges are prohibited.
Payments & Settlements
Sri Lanka Designates Indian Rupee as Permitted Currency
25/07/2023
Travellers from India will be able to directly use INR in Sri Lanka. Trade settlements between the two countries can also occur in INR.
Emerging Prudential Risks
Sri Lanka Approves New Central Bank Act
24/07/2023
A separate governing board will be formed in addition to the monetary policy board to improve bank oversight and reduce conflicts of interest.
Resolution & Recovery
Sri Lanka Declares 5-Day Bank Holiday to Finalise Debt Restructure
28/06/2023
The government expects the country’s domestic debt restructuring process gets to conclude during the five-day market closure period.
Emerging Prudential Risks
CBSL Starts Policy Easing Cycle to Revamp Economy
02/06/2023
The CBSL has lowered interest rates by 2.5 percent in a bid to restart credit flows and boost growth in the real economy.
Sustainable Finance
Sri Lanka Introduces First Framework for Listed Green Bonds
25/04/2023
Based on the demand for green bonds, the CSE plans to also introduce blue bonds and social and sustainability bonds in the future.
Capital Adequacy
IMF Bailout Presents Uncertain Outcome for Sri Lanka’s Banks
04/04/2023
The IMF estimates the banking sector recapitalisation needs around 6 percent of 2022 GDP. Local banks so far have opposed a domestic debt restructuring.
Liquidity Risk
Sri Lanka Likely to Secure IMF Funding Next Week
15/03/2023
The IMF’s Kristalina Georgieva has welcomed “decisive policy actions” by Sri Lankan authorities and the financial assurances obtained from major creditors.
Liquidity Risk
CBSL Issues Fresh Instruction on Consolidated SLAR Reporting
28/11/2022
The CBSL is working to address a local currency liquidity deficit in the banking system. Banks can continue to hold 90% NSFR until year-end.
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