CBSL - Regulation Asia

Sri Lanka Should Start LIBOR Transition ‘Immediately’ – ICRA

The central bank, financial institutions, and companies must assess the impact, and the LIBOR transition should start "immediately", says ICRA Lanka, a Moody's group company.

February 11, 2020

461

Asia-Pacific

Sri Lanka Offers Credit Support for Banks to Boost SME Lending

The new scheme provides risk mitigation support to banks that defer principal repayment and extend new loans for SME borrowers, including those that have defaulted.

January 18, 2020

507

Asia-Pacific

Sri Lanka to Enact New Banking Act in 2021

The new Banking Act will streamline the licensing process, branch approvals, and adopt a proportionality framework for banking regulations, among other changes.

January 10, 2020

181

Asia-Pacific

Sri Lanka to Penalise 8 Banks for Failing to Lower Lending Rates

Eight banks will be penalised for failure to lower lending rates by a 27 December 2019 deadline set by the central bank in September last year, intended to ensure the public benefits from monetary policy decisions.

January 7, 2020

477

AML / KYC

Sri Lanka to Develop Shared KYC Facility Using Blockchain

The CBSL is inviting software development companies to apply (by 31 December) to help in the development of a proof-of-concept of a shared KYC facility.

December 6, 2019

616

AML / KYC

FATF Removes Sri Lanka from ‘Grey List’; Pakistan to Remain

Sri Lanka has made "significant progress" to address strategic AML/CFT deficiencies; Pakistan has only largely addressed 5 of 27 action items and has failed to meet agreed deadlines.

October 23, 2019

396

Asia-Pacific