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Administrative Penalties imposed by the Financial Intelligence Unit (FIU) on Reporting Institutions from November to December 2024

By virtue of the powers vested under Section 19 (1) read together with section 19 (2) of the Financial Transactions Reporting Act, No. 6 of 2006 (FTRA), financial penalties are imposed on Institutions for non-compliance with the provisions of the FTRA. The penalty may be prescribed by taking into consideration the nature and gravity of relevant non-compliance of the Institutions.

Relief Measures to Assist the Affected Small and Medium Enterprises

As agreed with the Sri Lanka Banks’ Association (Guarantee) Ltd. (SLBA), to provide relief measures to affected SMEs by licensed commercial banks and licensed specialised banks, Circular No. 04 of 2024 dated 19.12.2024, and its addendum, Circular No. 01 of 2025 dated 01.01.2025 were issued by the Central Bank of Sri Lanka to ensure the effective implementation of the relief measures specified in the cited Circulars in a consistent manner across all licensed banks.

The Central Bank of Sri Lanka keeps the Overnight Policy Rate (OPR) unchanged

The Monetary Policy Board decided to keep the Overnight Policy Rate (OPR) at 8.00% at its meeting held yesterday. The Board arrived at this decision after carefully considering the developments both domestically and globally. The Board remains confident that the prevailing monetary policy stance will ensure that inflation will move towards the target of 5% while supporting the growth of the domestic economy.

Notice to General Public on Prohibited Pyramid Schemes

The Central Bank of Sri Lanka has determined Pro Care (Pvt) Ltd., Shade of Procare (Pvt) Ltd have engaged in a scheme prohibited under Section 83 (C) of the Banking Act, No. 30 of 1988, as amended.

Shaping the future through Digital Transactions: Central Bank of Sri Lanka Promotes Digital Payments in the Nuwara Eliya District

The Central Bank of Sri Lanka (CBSL) will be conducting its next Digital Payments Promotion Campaign for 2025 on 22nd and 23rd March 2025 in Nuwara Eliya, with the participation of the Governor of CBSL, Dr. Nandalal Weerasinghe.

SL Purchasing Managers’ Index (PMI) – February 2025

Purchasing Managers’ Indices indicate expansions in both Manufacturing and Services activities in February 2025.

Sri Lanka Purchasing Managers’ Index for Manufacturing (PMI – Manufacturing) recorded an index value of 56.8 in February 2025, indicating a continued expansion in manufacturing activities. This expansion is attributable to the positive contributions from all sub-indices.

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