Directors must undergo annual performance assessments and impose measures to limit related party transactions and manage conflicts of interest.
The CBSL has raised the amount of foreign currency banks have to sell to the central bank from 10 to 25 percent of inward remittances and export proceeds.
A newly-formed committee will identify the CCP's operating model and propose the necessary procedures for its establishment, including procurement.
The rules require banks to establish an Information Security Committee, chaired by the CEO, to assess the strategic and operational management of the technology risk.
The new SEC Act passed in September paves the way for new rules and guidelines to raise ESG standards among listed companies in Sri Lanka.
Foreign workers have been using Hawala channels for remittances, as they offer better rates than formal banking channels.
Companies will be able to maintain a reduced corporate tax rate for three years after listing. The CSE's listing framework was also revamped earlier this year.
Sri Lankan bankers estimate that nearly 50 percent of the proposed LKR 304 billion in the budget will come from the financial services industry.
The current methodology has resulted in record high index levels from trading activity in stocks with little free float and actual liquidity.
Data controllers must ensure the security and confidentiality of personal data. The rights of data subjects will be enhanced. Cross-border transfers are allowed.