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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]
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.
A digital bank represents a virtual process that includes online banking, mobile banking, and beyond. As an end-to-end platform, digital banking must encompass the front end that consumers see, the back end that bankers see through their servers and admin control panels, and the middleware that connects these nodes.
The working hours of the Sri Lankan banking sector have now changed from 8 hours, 5 days a week system to a 24/7 service. Telephone banking and internet banking [11] [12] facilities have become more popular added features of the banking industry with the growing popularity of modern telecommunication technology among Sri Lankans.
Commercial bank unveiled the online banking procedure to the customers in 2000. [17] In 2016, the bank launched Sri Lanka's first ever remittance card in order to ease the process of transferring funds from overseas to local beneficiaries. [18] The bank also launched Sri Lanka's first ever fully-automated cheque deposit machine in 2018. [19]
The Online Safety Bill, which passed with 108-62 votes, aims to “make provisions to prohibit online communication of certain statements of fact in Sri Lanka” and “prevent the use of online ...
Hatton National Bank PLC (commonly abbreviated as HNB) is a private bank in Sri Lanka with 255 branches and 825 ATMs. The bank traces its origin to 1888 when Hatton Bank commenced its operations in Hatton, Sri Lanka .
It is one of the leading finance companies in Sri Lanka and it is also ranked within the top five largest licensed financial institutions among the 46 non banking institutions in the country. [2] In September 2019, the company received the Best Social Media Initiative of the Year at the 2019 Asian Banking & Finance Awards which was held at the ...