Central Bank of Sri Lanka
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The Central Bank of Sri Lanka is the highest institution in Sri Lanka’s financial sector. The bank was established in 1950, two years after the Independence. The bank is a semi-autonomous body and is governed by a five member Monetary Board.
The Central Bank of Sri Lanka is the highest institution in Sri Lanka’s financial sector. The bank was established in 1950, two years after the Independence. The bank is a semi-autonomous body and is governed by a five member Monetary Board.
The bank has wide supervisory powers over the financial system. In performing its role the bank acts both as a negotiator and as a facilitator for the financial system if the country. The main functions of the bank are:
- Ensuring economic and price stability in the country with the objective of encouraging and promoting all round development of the Sri Lankan economy
- Ensuring the soundness and reliability of the Sri Lankan economy, banking and financial system, and ensuring that it meets the requirements of the community and keeps a tab on the international happenings
- Supporting the Sri Lankan government, as well as other elements of the Sri Lankan economic community
- To conduct monetary policy
- To issue the currency and control its circulation
- To hold and manage the country’s foreign exchange reserves
- To issue government securities
- To supervise the activities of the banking and financial sector in the country
- To develop strategies to promote Sri Lanka as an international financial center
The Central Bank of Sri Lanka works with the vision of building a modern and well-organized financial system in the country. Initiating reforms in the financial sector is one of the prerogatives and a key element in the economic strategy of the Central Bank of Sri Lanka.
The Address and Contact details of the bank is as follows:
Central Bank of Sri Lanka
Address: P.O. Box 590 Colombo 1 SRI LANKA Phone No.: ++94-1-34 62 51 Fax: ++94-1-34 62 52
