Sri Lanka overhauls banking sector

cabraal

The Central Bank of Sri Lanka has unveiled plans to concentrate the country's financial assets into the hands of five domestic banks and 20 non-bank financial institutions (NBFIs), in a bid to make the banking sector more resilient to shocks.

Ajith Cabraal, the central bank's governor, says a series of mergers was necessary to help "support the envisaged economic growth of the country" and would also enable "more effective supervision" on the part of the authorities.

Cabraal points to Malaysia a

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: