The 9th International Research Conference of the Central Bank of Sri Lanka was held on 2 December 2016 at the John Exter International Conference Hall of the Central Bank. The conference, organised by the Economic Research Department of the Central Bank, aims to stimulate research on contemporary themes while providing a forum for researchers of central banks, monetary authorities, universities and other research institutions to present recent theoretical and empirical work on issues relating to central banking and macroeconomic management. Since its inception in 2008, the International Research Conference has attracted scholars from across the globe and featured keynote addresses by eminent central bankers, academics and policy makers.

The Microfinance Act, No. 6 of 2016 was enacted with the objective of providing a regulatory framework to cover microfinance institutions that are not regulated at present. The purpose of the Act is to improve the delivery of financial services to low income persons and micro enterprises, increase financial inclusion, strengthen the soundness and systems of microfinance institutions, facilitate microfinance institutions to access wider sources of funding, promote consumer protection and promote a safe and stable financial system.

The Microfinance Act came in to operation on 15 July 2016. Accordingly, the Monetary Board of the Central Bank of Sri Lanka is empowered to issue licences for applicant  companies carrying on microfinance business, issue rules and directions for Licensed Microfinance Companies (LMFCs) and issue guidelines to the Registrar of Voluntary Social Services Organisations for the regulation and supervision of Microfinance Non-Governmental Organizations (MNGOs).