Frequently Asked Questions (FAQs)
Bank Supervision
What are the Licensed Commercial Banks in Sri Lanka?
Please refer the link below.
What are the Licensed Specialised Banks in Sri Lanka?
Please refer the link below.
How can a customer make a complaint to the Central Bank of Sri Lanka with respect to the unsatisfactory banking services provided by a Licensed Commercial Bank or a Licensed Specialised Bank?
The Central Bank of Sri Lanka has established a dedicated department to handle public complaints. You may refer the following link, in this regard.
Financial Consumer Relations Department (FCRD)
Where can we find the Banking Act?
Please refer the link below.
Where can we find directions, circulars and guidelines issued by Bank Supervision Department to Licensed Commercial Bank or Licensed Specialised Bank with respect to banking operations?
Please refer the link below.
Directions, Circulars and Guidelines for Banks
What is meant by ‘Debt Moratorium’?
Debt moratorium refers to the deferment of capital and/or interest payments, which fall due within a respective concession period on a temporary basis. However, Debt Moratorium does not mean a waive-off of capital and/or interest, permanently. A customer should pay the capital and/or interest payments, which falls due within the concession periods at a later date according to the revised repayment plan given by the respective bank.
What are the recent directions, regulations and guidelines issued with regard to Debt Moratorium facility?
Circular No. 10 of 2021 - Extension of Debt Moratorium for Covid-19 Affected Businesses and individuals in the Tourism Industry
Circular No. 04 of 2021 - Extension of Debt Moratorium for Covid-19 Affected Businesses and individuals in the Tourism Industry
Circular No. 10 of 2020 - Debt Moratorium for COVID-19 Affected Businesses and Individuals
Where can we find explanations given by the Central Bank of Sri Lanka from time to time with respect to the Debt Moratorium?
Please refer the links below.
What is the procedure to be followed to claim depositors’ money of a closed down licensed bank in Sri Lanka?
Step 1: In the event a Licensed Commercial Bank or a Licensed Specialised Bank proceeds with a voluntary liquidation or ceases to carry on banking business in Sri Lanka, such Licensed Commercial Bank or the Licensed Specialised Bank is required to settle all deposit liabilities to its depositors.
Step 2: Upon notification by the bank with regard to the said voluntary liquidation or the ceasure to carry on banking business, the depositors should contact the respective bank with necessary proof and identification documents to withdraw their funds.
Step 3: The unclaimed portion of depositors’ money in Sri Lanka Rupee and Foreign Currency will be transferred by the respective bank to a special account at the Central Bank of Sri Lanka and shall be considered as unclaimed funds.
Step 4: With regard to claiming unclaimed fund in Sri Lanka Rupee and foreign currency, a depositor should contact the Central Bank of Sri Lanka together with necessary proof and identification documents to claim their funds.
How to claim money from a bank account, which has been classify as abandoned property (inactive accounts) and of which the balance has been transferred to the Central Bank of Sri Lanka by any Licensed Commercial Bank or a Licensed Specialised Bank?
If the funds are maintained in Sri Lanka Rupee (LKR):
Step 01: Make a formal request to the respective bank by the customer with the documents to prove the identity such as the National Identity card, Passport, Birth Certificate or any other source document that assist in identifying the ownership of the account.
Step 02: The bank will pay the depositor’s claim using the funds retained in the control account of the respective bank which includes 10% of monies classified as abandoned properties.
Step 03: If the depositor’s claim is in excess of 10% of funds retained in the control account of the bank, then the respective banks will pay the customer his/her claim after verifying claimant’s identity, and subsequently forward the request to the Central Bank of Sri Lanka for reimbursement.
If the customer account is maintained in Foreign Currency (FCY):
Steps: Depositors can submit their claims to the respective Licensed Commercial Bank or the Licensed Specialised Bank to obtain the funds together with relevant documents such as the National Identity card, Passport, Birth Certificate or any other source document that assist in identifying the ownership of the account.
How can we find recent statistical data relating to the Financial Sector?
Please refer the link below