Banking in Sri Lanka

The banking sector in Sri Lanka is monitored by the Bank Supervision Department of the Central Bank of Sri Lanka under the Banking Act,[1] Monetary Law Act[2] and the Exchange Control Act.[3]

Three types of financial institutions are permitted under Banking Act and the Finance Companies Act to operate in Sri Lanka by the Central Bank of Sri Lanka.[4][5] They are

  1. Licensed Commercial Banks
  2. Registered Finance Companies
  3. Licensed Specialized Banks

These institutions can accept deposits from the public. The number of licensed specialized banks reduced from 14 to 9 and the number of registered financial institutions increased from 31 to 36 during the period of 2007 to 2010.[6][7] The current list of banks in Sri Lanka is published by Central Bank of Sri Lanka periodically.

  1. ^ Banking Act No. 30 of 1988. http://www.cbsl.gov.lk/pics_n_docs/09_lr/_docs/acts/BankingAct30_1988.pdf Archived 2012-05-24 at the Wayback Machine
  2. ^ Monetary Law Act (MLA) No. 58 of 1949 (with amendments up to 2006). http://www.cbsl.gov.lk/pics_n_docs/09_lr/_docs/acts/mla_7th_rev_latest.pdf Archived 2012-04-25 at the Wayback Machine
  3. ^ "Central Bank of Sri Lanka - Regulation and Supervision". Archived from the original on 2012-03-25. Retrieved 2012-04-03.
  4. ^ List of Banking Institutions published by Central Bank of Sri Lanka on April 30, 2007. http://www.cbsl.gov.lk/pics_n_docs/02_prs/_docs/notices/notice_20070430.pdf Archived 2012-03-04 at the Wayback Machine
  5. ^ Institutions authorized by the Central Bank of Sri Lanka to take Deposits from the Public as at January 31, 2010. http://www.cbsl.gov.lk/pics_n_docs/01_home/images/list_bank_20100131e.pdf Archived 2011-09-19 at the Wayback Machine
  6. ^ List of Banking Institutions published by Central Bank of Sri Lanka on April 30, 2007. http://www.cbsl.gov.lk/pics_n_docs/02_prs/_docs/notices/notice_20070430.pdf Archived 2012-03-04 at the Wayback Machine
  7. ^ Institutions authorized by the Central Bank of Sri Lanka to take Deposits from the Public as at January 31, 2010. http://www.cbsl.gov.lk/pics_n_docs/01_home/images/list_bank_20100131e.pdf Archived 2011-09-19 at the Wayback Machine