In terms of the provisions of the Central Bank of Sri Lanka (CBSL) Act, No. 16 of 2023, the Governing Board (GB) of the CBSL has been established as the body responsible for overseeing the administration and management of the affairs of the CBSL and determination of the general policies of the CBSL.

Governing Board

The GB comprises the Governor of the CBSL, Dr. P Nandalal Weerasinghe, who serves as the Chairman of the GB, Mr. A N Fonseka (Appointed Member of the Monetary Board of the CBSL since 27.07.2022 who continued to serve as a Member of the GB), Dr. Ravi Ratnayake (appointed on 21.09.2023), Mr. Anushka S Wijesinha (appointed on 21.09.2023) and Mr. Vish Govindasamy (appointed on 26.10.2023).

Further, we hereby announce the appointments of Mr. Rajeev Amarasuriya and Mr. Manil Jayesinghe to the GB. The profiles of the newly appointed members are as follows:

The Government of Sri Lanka (GOSL) and the World Bank signed an agreement for $150 million in financing for Sri Lanka to strengthen the resilience of the financial sector through the Financial Sector Safety Net Strengthening Project (FSSNP). In parallel, the project agreement between the World Bank and the Central Bank of Sri Lanka (CBSL) was also entered in respect of the project implementation arrangements.

The project development objective is to strengthen Sri Lanka's financial sector safety net with the focus on the Sri Lanka Deposit Insurance Scheme (SLDIS), which is managed by the CBSL. The project also aims to strengthen the financial and institutional capacity of SLDIS in line with international best practices for effective deposit insurance schemes.

The CBSL will be the Implementing Agency of FSSNP. The Deposit Insurance Scheme of Sri Lanka was legally instituted and named as the Sri Lanka Deposit Insurance Scheme with the enactment of the Banking (Special Provisions) Act, No. 17 of 2023.