Central Bank of Sri Lanka

Monetary authority and regulator of all licensed banks of Sri Lanka

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Central Bank of Sri Lanka
ශ්‍රී ලංකා මහ බැංකුව (Sinhala)
இலங்கை மத்திய வங்கி (Tamil)

Headquarters| Colombo
Coordinates| 6°56′02″N 79°50′32″E﻿ / ﻿6.93399°N 79.84225°E﻿ / 6.93399; 79.84225
Established| 28 August 1950; 74 years ago (1950-08-28)
Governor| Dr. Nandalal Weerasinghe
Central bank of| Sri Lanka
Currency| Sri Lankan rupee
LKR (ISO 4217)
Reserves| US$6 billion
Preceded by| Currency Board System
Website| www.cbsl.gov.lk
Sri Lanka bonds spiked in 2022
Inverted yield curve in the first half of 2022 during Sri Lankan economic crisis

15 year bonds

10 year bonds

5 year bonds

1 year bonds

6 month bonds

The Central Bank of Sri Lanka (abbr. CBSL; Sinhala: ශ්‍රී ලංකා මහ බැංකුව, romanized: Sri Lanka Maha Bankuwa) is the monetary authority of Sri Lanka. It was established in 1950 under the Monetary Law Act No.58 of 1949 (MLA) and in terms of the Central Bank of Sri Lanka Act No. 16 of 2023, the CBSL is a body corporate with perpetual succession and a common seal. The Central Bank has administrative and financial autonomy. The CBSL has two main boards in operation, namely, the Governing Board (GB) and the Monetary Policy Board (MPB).

## History

[edit]

The Central Bank of Sri Lanka was established in 1950, two years after independence. The founder governor of the Central Bank of Sri Lanka was John Exter, while the minister of finance at the time was J. R. Jayewardene. Under the former name of Central Bank of Ceylon, it replaced the Currency Board that until then had been responsible for issuing the country's money. It is a member of the Asian Clearing Union.

The bank's main tasks are the conduct of monetary policy in Sri Lanka and also has wide supervisory powers over the financial system.

The bank is engaged in developing policies to promote financial inclusion and is a member of the Alliance for Financial Inclusion (AFI).[1][2]

With a view to encouraging and promoting the development of the productive resources of Sri Lanka, the CBSL is responsible for securing price stability and financial system stability. The CBSL is also responsible for currency issuance and management. In addition, the CBSL is the advisor on economic affairs as well as the banker to the Government of Sri Lanka (GOSL). On behalf of GOSL, the CBSL, as its agent, is responsible for four agency functions, viz. management of the Employees Provident Fund; management of the public debt of Sri Lanka; administration of the provisions of the Exchange Control Act; and administration of foreign and government-funded credit schemes for regional development.[3]

## Organisational structure

[edit]

Central Bank of Sri Lanka Building

The Governor of the CBSL functions as its chief executive officer. The Governor, Deputy Governors and Assistant Governors, along with the Heads of Departments, form the senior management of the CBSL. Functionally, the CBSL presently consists of 29 departments, each headed by a Director (or equivalent), reporting to the Governor or the Deputy Governor through an Assistant Governor, with the exception of the Management Audit Department, which reports directly to the governor. The Economic Research and Bank Supervision Departments were explicitly set up under the original legislation establishing the CBSL, with certain statutory functions. The Economic Research Department, headed by the Director of Economic Research/Chief Economist, is required to compile data and conduct economic research for the guidance of the Monetary Board and for the information of the public, while the Bank Supervision Department, headed by the Director of Bank Supervision, is required to engage in the continuous regulation and supervision of all banking institutions in Sri Lanka.

The current members of the Governing Board of the Central Bank of Sri Lanka are:[4]

1. Hon. Dr P. Nandalal Weerasinghe (Governor) - Chairman
2. Vish Govindasamy - Appointed Member
3. Nihal Fonseka - Appointed Member
4. Dr. Ravi Rathnayake - Appointed Member
5. Anushka Wijesinha - Appointed Member
6. Rajeev Amarasuriya - Appointed Member
7. Manil Jayesinghe - Appointed Member

The current members of the Monetary Policy Board of the Central Bank of Sri Lanka are:[4]

1. Hon. Dr P. Nandalal Weerasinghe (Governor) - Chairman
2. Vish Govindasamy - Appointed Member
3. Nihal Fonseka - Appointed Member
4. Dr. Ravi Rathnayake - Appointed Member
5. Anushka Wijesinha - Appointed Member
6. Dr.(Ms) Dushni Weerakoon - Appointed Member
7. Prof. Priyanga Dunusinghe - Appointed Member
8. Rajeev Amarasuriya - Appointed Member
9. Manil Jayesinghe - Appointed Member
10. Mrs. T. M. J. Y. P. Fernando - Senior Deputy Governor
11. Mrs. K. M. A. N. Daulagala - Deputy Governor

## Governors

[edit]

Main article: Governor of the Central Bank of Sri Lanka

## Corporate Management

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The corporate management of the Central Bank of Sri Lanka includes the Governor, Deputy Governors and Assistant Governors.[5]

## See also

[edit]

* Money portal
* Banks portal

* Sri Lankan rupee
* Colombo Central Bank bombing
* Currency museum, Colombo
* Fintech Association of Sri Lanka
* List of central banks

## References

[edit]

1. ^ "Alliance for Financial Inclusion". Alliance for Financial Inclusion | Bringing smart policies to life. Archived from the original on September 27, 2015. Retrieved Sep 23, 2020.
2. ^ "AFI members". AFI Global. 2011-10-10. Archived from the original on 2012-02-20. Retrieved 2012-02-23.
3. ^ "About the Bank- Overview | Central Bank of Sri Lanka". www.cbsl.gov.lk. Retrieved Sep 23, 2020.
4. ^ a b "Corporate Structure | Central Bank of Sri Lanka". www.cbsl.gov.lk. Retrieved 2024-06-03.
5. ^ "Principal Officers". Central Bank of Sri Lanka. Retrieved 2024-11-08.

## External links

[edit]

* Media related to Central Bank of Sri Lanka at Wikimedia Commons
* Official website

* v
* t
* e

Banking in Sri Lanka

Commercial banks|

| Local|

* Amana Bank
* Bank of Ceylon
* Cargills Bank
* Commercial Bank of Ceylon
* DFCC Bank
* Hatton National Bank
* National Development Bank
* Nations Trust Bank
* Pan Asia Bank
* People's Bank
* Sampath Bank
* Seylan Bank
* Union Bank

|

Foreign|

* Bank of China
* Citibank
* Deutsche Bank
* Habib Bank
* HSBC
* Indian Bank
* Indian Overseas Bank
* MCB Bank
* Public Bank Berhad
* Standard Chartered Bank
* State Bank of India

Specialised banks|

* Housing Development Finance Corporation Bank of Sri Lanka (HDFC)
* National Savings Bank
* Regional Development Bank (Pradheshiya Sanwardhana Bank)
* Sanasa Development Bank
* Sri Lanka Savings Bank
* State Mortgage and Investment Bank

Finance companies|

* Abans Finance
* Alliance Finance Company
* AMW Capital Leasing and Finance
* Asia Asset Finance
* Assetline Finance
* Associated Motor Finance Company
* CBC Finance
* Central Finance Company
* Citizens Development Business Finance
* Commercial Credit and Finance
* Dialog Finance
* ETI Finance
* Fintrex Finance
* HNB Finance
* Lanka Credit and Business Finance
* LB Finance
* LOLC Finance
* Mahindra Ideal Finance
* Mercantile Investments and Finance
* Merchant Bank of Sri Lanka and Finance
* Multi Finance
* Nation Lanka Finance
* Orient Finance
* People's Leasing & Finance
* People's Merchant Finance
* Richard Pieris Finance
* Sarvodaya Development Finance
* Senkadagala Finance
* Singer Finance
* Siyapatha Finance
* SMB Finance
* Softlogic Finance
* U B Finance Company
* Vallibel Finance

Defunct|

* Bimputh Finance
* TKS Finance

Interbank|

| Networks|

* Cirrus
* LankaPay
* Plus

|

Payment systems|

* LankaPay CEFTS
* Sri Lanka Interbank Payment System

Governing bodies|

* Central Bank of Sri Lanka
* Ministry of Finance
* Institute of Bankers of Sri Lanka

* v
* t
* e

Economy of Sri Lanka

Companies|

* Listed on CSE
* S&P SL20
* By market capitalisation
* LMD 100
* Largest
* Government-owned
* List
* List of hotels

Currency,
Governance|

* Central Bank of Sri Lanka
* Governors
* Ministry of Finance
* Finance ministers
* Ministry of Industry and Commerce
* Public Utilities Commission of Sri Lanka
* Sri Lankan rupee
* Banknotes
* Taxation

History|

* Coffee rust
* Mahaweli Development programme
* Sri Lankan economic crisis (2019–present)

People|

* Demographics
* Income
* Poverty
* Pensions
* EPF
* ETF
* Squatting
* Unemployment

Promotion|

* Board of Investment of Sri Lanka
* Ceylon Chamber of Commerce
* Ceylon tea
* Ministry of Investment Promotion

Sectors|

| Primary|

* Agriculture
* Cinnamon
* Cocoa
* Coconut
* Coffee
* Livestock
* Rice
* Rubber
* Sugar
* Tea
* Forestry
* Mining
* Gems
* Graphite

|

Secondary|

* Apparel
* Beer
* Energy
* Electricity
* Nuclear
* Solar
* Wind
* Trade
* Telecommunications
* Utilities
* Ceylon Electricity Board
* Lanka Electricity Company
* Water Supply

Tertiary|

* Banking
* Banks
* Colombo Stock Exchange
* S&P Sri Lanka 20 Index
* All Share Price Index
* Healthcare
* Information technology
* Institute of Bankers of Sri Lanka
* Port City Colombo
* Sri Lanka Interbank Payment System
* Tourism
* Transport
* SriLankan Airlines
* Ports
* Rail
* Expressways
* Highways

Quaternary|

* Education
* Mass media
* Cinema
* Radio
* Television
* Print media
* Newspapers
* Science and technology

International
cooperation|

* SAARC
* SAFTA
* BIMSTEC
* Colombo Plan
* G77

See also|

International rankings

* Commons

Authority control databases

International|

* ISNI
* VIAF

National|

* Germany
* United States
* Australia
* Norway
* Israel

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