As per the provisions of the Monetary Law Act No. 58 of 1949, the Banking Act No. 30 of 1988, and the Foreign Exchange Act No. 12 of 2017, the Central Bank of Sri Lanka introduced several measures to ease the pressure on the exchange rate and prevent financial market panic due to the COVID-19 pandemic.
The promotional campaign of “2020 - Year of Digital Transactions” was launched by Deshamanya Prof. W D Lakshman, Governor of Central Bank of Sri Lanka (CBSL) on 11 March, 2020 at the CBSL amidst the attendance of senior bankers, officials of non-banking financial institutions, central bankers and other dignitaries. Following the launch, Mr. D Kumaratunge, Director Payments and Settlements of CBSL, introduced the advertising campaign of “Cash වදේ”. The campaign depicts the worries that both consumers and businesses face due to using cash, such as the risk of being robbed or losing time in queues. The launch, which marked official beginning of the retail level campaign aims to draw as many customers to use digital payment methods such as mobile applications, the LankaQR code, and credit and debit cards.
