The
Central Bank of Sri Lanka (CBSL) is the country's monetary authority, established on 28 August 1950 and headquartered in Colombo. As the central bank of the country, CBSL does not fall under the category of state-owned, joint-venture or commercial banks, but is an independent government agency responsible for formulating and implementing monetary policy, supervising financial institutions, issuing currency, and other functions.
Scope of
ServicesCBSL's services cover the entire Sri Lankan landscape and regulate and support the nation's financial system through its multiple departments and branches. In addition, CBSL is involved in global financial affairs through cooperation with international organizations.
Regulation &
ComplianceCBSL is supervised by the Government of Sri Lanka and operates in accordance with relevant laws and regulations, including the Central Bank of Sri Lanka Act. Its responsibilities include supervising all licensed banks and financial institutions to ensure the stability and compliance of the financial system. In addition, CBSL has a Financial Consumer Relations Unit to handle complaints from the public against financial service providers and ensure that consumer rights are protected.
Financial HealthCapital
Adequacy RatioBased
on data from December 2023, Sri Lanka's capital adequacy ratio was 18.3%, an improvement from 16.0% in 2022, indicating a solid capital position in the banking system.
Liquidity Coverage RatioAs
of December 2023, Sri Lanka's liquid asset ratio was 38.9%, a significant increase from 27.4% in 2022, indicating a good liquidity position in the banking system.
Deposit Insurance & Lending Product
CBSL implemented the Sri Lanka Deposit Insurance Scheme (SLDIS) in 2010 and further strengthened the legal basis of the scheme in 2023 with the passage of the Special Provisions for Banks Act. The scheme provides depositors with protection of up to 1,100,000 Sri Lankan rupees, covering more than 90% of the nation's deposit accounts, boosting public confidence in the financial system.
Digital Service
ExperienceCBSL actively promotes the development of digital payment systems, launching platforms such as LankaQR and GovPay. LankaQR is a nationwide unified QR code payment system that aims to promote the development of a cashless society, especially supporting the digital transformation of small and medium-sized enterprises. GovPay is a government payment platform that allows the public to make government-related payments through mobile banking and internet banking, improving the efficiency and convenience of public services.
Customer Service Quality
CBSL has a Financial Consumer Relations Unit (FCRD) that serves as a single point of contact for handling complaints from the public against financial service providers. The FCRD ensures that complaints are handled in a timely and fair manner through a standardized complaint handling process to protect consumer rights.
Security
SafeguardsCBSL is committed to ensuring the safety and stability of the financial system by supervising and guiding financial institutions in the implementation of anti-fraud technology and data protection measures. In addition, CBSL also promotes financial institutions to follow international information security standards, such as ISO 27001 certification, to strengthen data security management.
Featured Services & DifferentiationCBSL
actively promotes financial inclusion and supports the development of financial services for small and medium-sized enterprises and rural areas. By promoting digital payment systems and financial education, CBSL is committed to improving financial literacy and access to services for all.
