Subscribe to Central Bank of Sri Lanka RSS

News

A Commemorative Coin to Celebrate 150 Anniversary of Ceylon Tea

The Central Bank of Sri Lanka (CBSL) issued a commemorative coin with a face value of Rs. 10 to celebrate 150 years of Ceylon Tea and to recognize its contribution to the national economy as an important and long-standing export oriented commodity in Sri Lanka.

The first set of coins were officially presented to the Hon. Minister of Finance, Mr. Mangala Samaraweera and Hon. Minister of Plantation Industries, Mr. Navin Dissanayake by Dr. Indrajit Coomaraswamy, Governor of CBSL, at the ceremony held at CBSL on 12.07.2017.

The coin will be issued into circulation from 13.07.2017 through licensed commercial banks and can be used for payments amongst other currency notes and coins in circulation.

FULL TEXT

External Sector Performance - April 2017

Sri Lanka’s external sector displayed a mixed performance in April 2017. Although export earnings increased in April 2017, the higher growth in import expenditure resulted in an expansion of the trade deficit. Despite the increase in tourist earnings in April 2017, the decline in workers’ remittances together with the expanded trade deficit moderated the performance of the external current account. However, the financial account of the Balance of Payments (BOP) was supported by continued foreign inflows to the Colombo Stock Exchange (CSE) and the government securities market in April 2017.

FULL TEXT

Suspension of Business of Perpetual Treasuries Limited

The Monetary Board of the Central Bank of Sri Lanka on 06th July 2017, acting in terms of the Regulations made under the Registered Stocks and Securities Ordinance and the Local Treasury Bills Ordinance, has decided to suspend Perpetual Treasuries Limited (PTL) from carrying on the business and activities of a Primary Dealer for a period of six months with effect from 4.30 p.m. on 06th July 2017.

The Central Bank will take necessary measures to ensure that this regulatory action does not have a disruptive impact on the market. Action will also be taken to facilitate the handling of the interests of the customers and counterparties of PTL in an orderly manner.

Licensed Banks Adopt Basel III Capital Standards to Strengthen Resilience

Commencing 01 July 2017, licensed banks in Sri Lanka will adopt minimum capital standards based on the Direction issued by the Central Bank of Sri Lanka in late 2016. This Direction is in line with the Basel III guidelines issued by the Bank for International Settlements (BIS) related to capital, leverage and liquidity in order to strengthen resilience of banks.

FULL TEXT

Amalgamation of the Operation of Regional Sub-office of the Central Bank of Sri Lanka in Jaffna with Regional Office in Kilinochchi

The public is hereby notified that the Regional Sub-office of the Central Bank of Sri Lanka (CBSL) in Jaffna shifted its operations to Regional Office, Ariviyal Nagar, Kilinochchi with effect from 15 June 2017. Accordingly, services provided by Jaffna Sub-office such as providing Employees’ Provident Fund (EPF) related services, maintaining of sales counter for CBSL publications, conducting awareness programmes on financing, development of managerial and business skills, promoting credit delivery mechanisms in the Jaffna region will be carried out through the Regional Office in Kilinochchi, in addition to the current operational activities of that office.

Monetary Policy Review - No. 4 of 2017

With due consideration to the prevailing and evolving domestic and international macroeconomic environment, the Monetary Board, at its meeting held on 22 June 2017, was of the view that the current monetary policy stance is appropriate and decided to maintain the policy interest rates of the Central Bank of Sri Lanka at their present levels.

The decision of the Monetary Board is consistent with the objective of maintaining inflation at mid-single digit levels over the medium term and thereby facilitating a sustainable growth trajectory. The rationale underpinning the monetary policy stance is set out below. 

Pages