Central Banking

Sri Lanka c bank hands cheque clearing to local Co

SRI LANKA - The Central Bank of Sri Lanka has delegated the bank's operation of clearing cheques to local company Lanka Clear Ltd., reports the Daily News, quoting the central bank governor.

He said the move is aimed at streamlining the local banking system and to make it more efficient. Over the long-term, the bank hopes to automate the cheque-clearing system through Lanka Clear, the report added.

Lanka Clear is a venture between the central bank and several state and private banks.

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