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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.
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
In October 2020, the Central Bank of Sri Lanka issued a special notice to Bimputh Finance for non-compliance with the minimum capital adequacy requirement. [8] In 2022, it was listed as one of the 12 Sri Lankan non-bank financial institutions on Rating Watch Negative by Fitch Ratings.
The bank is engaged in developing policies to promote financial inclusion and is a member of the Alliance for Financial Inclusion (AFI). [1] [2] With a view to encouraging and promoting the development of the productive resources of Sri Lanka, the CBSL is responsible for securing price stability and financial system stability. The CBSL is also ...
The Accounting in Sri Lanka is regulated under the several legal regulations. There are several professional accountancy body in the country. The Sri Lanka Accounting and Auditing Standards Monitoring Board (SLAASMB) is the audit oversight entity, while the Auditor General of Sri Lanka has audit oversight over government all entities. [1]
FASL has launched an initiative to draft a report titled, ‘Enhancing Colombo International Financial City (Port City Colombo) as a Leading Fintech Hub in South Asia’ to submit to the President of Sri Lanka; the initiative is being assisted by a number of fintech experts globally and Professor Douglas Arner, Kerry Holdings Professor in Law ...
Financial regulation is a broad set of policies that apply to the financial sector in most jurisdictions, justified by two main features of finance: systemic risk, which implies that the failure of financial firms involves public interest considerations; and information asymmetry, which justifies curbs on freedom of contract in selected areas of financial services, particularly those that ...
The Asia/Pacific Group on Money Laundering (APG) is a FATF-style regional inter-governmental (international) body, the members of which are committed to effectively implementing the international standards against money laundering (Anti–money laundering or AML), combating the financing of terrorism (CFT) and financing the proliferation of weapons of mass destruction.