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Professor W.D. Lakshman, Governor of the Central Bank of Sri Lanka, Central Bank Governor

Prof. W.D. Lakshman appointed new Central Bank Governor

Prof. W.D. Lakshman has been appointed as the new Governor of the Central Bank of Sri Lanka. He has also served as the Vice Chancellor of the University of Colombo. Prof. W.D. Lakshman, an economics expert, was awarded the Deshamanya reputation in 2005. He was appointed as an Advisor to the Ministry of Finance in …

Dr. Indrajit Coomaraswamy

Plan to boost foreign currency trade in SL – Governor CB

The Central Bank intends to introduce a new policy framework for the regulation and flexibility required to increase foreign exchange in the country through the domestic foreign currency trade. Central Bank Governor Indrajith Coomaraswamy said this while addressing the ACI World Conference on the Benefits and New Policies of the 24-Hour Foreign Currency Trade. Central …

Dr. Indrajit Coomaraswamy, Why Increasing Credit Card Interest Rates

Why Increasing Credit Card Interest Rates?

Commercial banks increased the annualized interest rate on credit cards up to 32%. This subject was raised by Ada Derana during the monetary policy review press conference of CBSL which was held yesterday (11). Responding to the question, the Governor of the Central Bank Dr. Indrajit Coomaraswamy expressed the following; “You have to separate unsecured …

Dr. Indrajit Coomaraswamy

Not involved in ‘economic corridors’ – CBSL Governor

Governor of the Central Bank Dr Indrajit Coomaraswamy during his visit to Jaffna today (July 12), commented on the proposed amendments to the monetary act. He said that the new draft monetary act has a new section which is entirely focused on the systematic risk in the economy but which is also not there in …

Dr. Indrajit Coomaraswamy

Time to get down to business: CB Chief

As the country returns to normalcy, Central Bank Governor Dr. Indrajit Coomaraswamy was largely optimistic of growth prospects and called for the business community to make the most of the latest changes in policy rates to promote business activity. Yet he acknowledged the monetary authority would revise growth numbers for 2019 after first quarter numbers …

Dr. Indrajit Coomaraswamy

CB puts ISBs first in quest for debt repayment funds

The Central Bank has ‘recalibrated’ its strategy to raise funds to repay debt, prioritising International Sovereign Bonds (ISBs) over bilateral arrangements, but the secondary options include a $1.5 billion swap arrangement with People’s Bank of China. Central Bank Governor Dr. Indrajit Coomaraswamy explained that the decision to return to the market was motivated by yields …

Central Bank of Sri Lanka

CBSL to investigate the bond scam and EPF

The Central Bank has decided to conduct an independent investigation into allegations of irregularities in terms of Central Banks bonds and the Employees Provident Fund. Governor Dr. Indrajith Coomaraswamy said that the investigation will be carried out according to a recommendation made by the Presidential Commission of Inquiry. He added that the investigations will be …

Dr. Indrajit Coomaraswamy

Tight control must for Budget 2019: CB chief

In the backdrop of the Finance Ministry preparing its Budget for 2019, Central Bank Governor Dr. Indrajit Coomaraswamy has called for strong deficit control, as any fiscal slippage could make it more challenging for Sri Lanka to meet an estimated $15 billion in debt repayments starting next year. The Government is expected to announce Presidential …

Dr. Indrajit Coomaraswamy

Oversight committee to regulate Samurdhi Banks

An oversight committee is set to be appointed to regulate Samurdhi Banks in the country. Governor of the Central Bank of Sri Lanka Dr. Indrajit Coomaraswamy said the decision was reached following a meeting with Prime Minister Ranil Wickremesinghe at the Temple Trees yesterday. Accordingly, a committee comprising representatives of the Central Bank, Ministries of …

Invest Sri Lanka in Singapore - 2018

‘Invest Sri Lanka’ takes centre stage in Singapore

The ‘Invest Sri Lanka’ Investor Forum organised by the Colombo Stock Exchange (CSE), the Securities and Exchange Commission of Sri Lanka (SEC) and the Singapore –Sri Lanka Business Association (SLBA) was held on 2 March (Friday) at the Four Seasons Hotel Singapore and made a strong case for investment flows into Sri Lanka. The event …

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