The Central Bank of Sri Lanka (CBSL) wishes to announce the issuance of the Banking Act Directions No. 05 of 2024 on Corporate Governance for Licensed Banks on 30.09.2024. These Directions were issued with a view to strengthening the corporate governance processes and practices of the licensed commercial banks and licensed specialised banks (hereinafter referred to as licensed banks), thus facilitating the conduct of banking business in a responsible and accountable manner in order to promote safety and soundness of the banking sector and the financial system as a whole.

The external sector continued the positive momentum in August 2024 with robust inflows of workers' remittances and a notable increase in exports, despite a slowdown in tourist earnings compared to the previous month.