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The bank was established under the Bank of Tanzania Act 1965. However, in 1995, the government decided that the central bank had too many responsibilities, thus hindering its other objectives. As a result, the government introduced the Bank of Tanzania Act 1995, which gave the bank the single objective of monetary policy.
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 ...
Sri Lanka: Central Bank of Sri Lanka ; Securities and Exchange Commission (SEC) ; Insurance Regulatory Commission of Sri Lanka (IRCSL) Suriname: Central Bank of Suriname: Sweden: Financial Supervisory Authority (Finansinspektionen) and Swedish Inspectorate of Auditors (Revisorsinspektionen) Switzerland
The Sri Lanka Interbank Payment System (or SLIPS in short) is the largest account-to-account fund transfer network in Sri Lanka. [2] Created by LankaClear, it enables member banks to carry out same-day transfers of up to Rs. 5 million, in a secure paperless process.
The General Direction No 01 of 2018 as per the Monetary Board of the Central Bank of Sri Lanka under section 44 of the Payment and Settlement Systems Act No 28 of 2005 came into immediate effect as of 25 July 2018 implies to the operations of the Common Electronic Fund Transfer Switch, Lanka Clear (Pvt) Ltd and members of CEFTS. [8]
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; Source: Central Bank, September 2020 [2]
The Sri Lanka Interbank Payment System, commonly known as SLIPS, is a LKR-only online interbank payment and fund transfer system in Sri Lanka. [1] [2]SLIPS is owned by LankaClear, an organization owned by the Central Bank of Sri Lanka and all Licensed Commercial Banks operating in Sri Lanka, with 47.19% of shares held by the CBSL and State owned commercial banks, and 52.81% by other private banks.
It is one of the banks licensed by the Bank of Tanzania, the national banking regulator. [1] The bank serves retail customers, corporate customer, and medium to large business enterprises. As of December 2011, it was the fifth-largest commercial bank in Tanzania, by assets, with an estimated asset base of US$793.1 million (TZS:1.24 trillion).