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Sri Lanka Purchasing Managers’ Index - July 2019

Manufacturing activities expanded further at a higher ratein July 2019,recordingan index value of 55.7 which is an increase of 1.8 index points, compared to June 2019. This expansion in manufacturing PMI is mainly attributable to the significant increase in New Orders and subsequent increase in Production, especially, in manufacturing of food & beverages sector. The increase in new orders was mainly due to the gradual recovery of the economy from disruptions related to Easter Sunday attacks. Meanwhile, Employment increased at a slower rate during the month of July although many respondents in the textile and apparel industry highlighted that they experienced higher rate of labour turnover during the month.

Regulatory Action on a Primary Dealer - Pan Asia Banking Corporation PLC

The Monetary Board of the Central Bank of Sri Lanka, acting in terms of the Regulations made under the Registered Stock and Securities Ordinance and the Local Treasury Bills Ordinance, has decided to extend the suspension of business and activities of the Primary Dealer Unit of Pan Asia Banking Corporation PLC (PABC) for a period of six months with effect from 10.00 a.m. on 15th August 2019, in order to continue the investigations being conducted by the Central Bank of Sri Lanka.

The Central Bank wishes to emphasize that this regulatory action suspends PABC’s access to the primary auctions for government securities. It does not affect any of the other activities/services of PABC.

Appoinment of Dr (Ms) Dushni Weerakoon as a Member of the Monetary Board

Dr (Ms) Dushni Weerakoon has been appointed as a member of the Monetary Board of the Central Bank of Sri Lanka with effect from July 29, 2019.

Dr (Ms) Dushni Weerakoon is the Executive Director of the Institute of Policy Studies of Sri Lanka (IPS) and Head of its Macroeconomic Policy research. She joined the IPS in 1994 on completing her PhD, and has written and published widely on macroeconomic policy, regional trade integration and international economics.

Adopting Safe and Secure Electronic Payment Practices

Electronic payment (e-payment) methods, such as real-time interbank fund transfers from customer current and savings accounts as well as card payment facilities, have provided a great convenience to customers. Sri Lanka’s payment systems and infrastructure meet international security standards to ensure the safety of customer funds. In order to continuously enjoy these facilities customers must adhere to adequate safety measures when making e-payments. Accordingly, customers should exercise caution when sharing any information that can be used to access and use their current or savings accounts, payment cards or electronic wallets (e-wallets).