The CBSL will have the ability to replace an institution's management, operate an agent institution and bail out an institution where necessary.
October 13, 2020The central bank set up a fintech sandbox in February but no companies have applied to participate so far, officials told Regulation Asia.
October 6, 2020The CSE and Central Depository System can digitally verify national ID card details against information held by the Department for Registration of Persons.
September 23, 2020As part of measures to lure foreign investment back into Sri Lanka, the government also plans to channel banks' funds into the stock market.
September 16, 2020Multilateral agencies such as the World Bank and IFC can hold up to 20% of a commercial bank. Other firms or institutions can hold up to 15%.
September 14, 2020Bank of Ceylon, People’s Bank, National Savings Bank, Regional Development Bank, and their related institutions will be probed for irregularities.
August 20, 2020Sri Lanka's FIU has revealed that two banks and one finance company were penalised in 2019, and two other finance companies in 2020.
July 30, 2020Banks no longer need to risk weight the loans against capital due to a guarantee scheme announced by CBSL earlier this month.
July 23, 2020Sri Lanka has increased the amount of foreign currency that can be physically brought into the country to be deposited into a 'Special Deposit Account'.
July 17, 2020Sri Lanka's central bank has cut interest rates again and is ramping up pressure for banks to reduce the rates they charge borrowers, particularly small businesses.
July 10, 2020