BankHeadOffice.com         Bank Head Office Worldwide   ♦ Loan Calculators ♦ Mortgage Guides ♦ Banking FAQs ♦ Banking Institutions ♦ Central Banks Worldwide       Home  »  Central Banks Worldwide  »  Central Bank of Sri Lanka Central Bank of Sri Lanka The Central Bank of Sri Lanka was set up by the post independence Government in recognition of the importance of an active monetary policy regime and a dynamic financial sector to support and promote economic growth. Prior to the establishment of the Central Bank, functions relating to central banking were conducted by the Currency Board System that was set up under the Paper Currency Ordinance No.32 of 1884.   The Central Bank is responsible for the conduct of monetary policy in Sri Lanka and also has wide supervisory powers over the financial system. The Central Bank was given wide powers to administer and regulate the entire money, banking and credit system of the country. The Central Bank was also given the sole right and authority to issue currency and it also became the custodian of the international reserves of the country. The objectives of the Central Bank as specified in the MLA in 1949 were;  • The stabilisation of domestic monetary values (maintenance of price stability);  • The preservation of the par value or the stability of the exchange rate of the Sri Lankan Rupee (maintenance of exchange rate stability);  •  The promotion and maintenance of a high level of production, employment and real income in Sri Lanka; and  • The encouragement and promotion of the full development of the productive resources of Sri Lanka. The MLA gave the Central Bank wide powers in relation to the conduct of monetary policy to achieve its objectives. Therefore, the Central Bank was expected to play an important role in achieving these objectives, not only indirectly by maintaining monetary stability, but also directly by promoting the development and expansion of the financial system and directing credit to areas with the greatest development potential. Central Bank of Sri Lanka HQ Address: 30, Janadhipathi Mawatha Colombo 01 Sri Lanka Tel: +94  11 2477 000 Swift Code: CBCELKLX Website: www.cbsl.gov.lk Email: cbslgen@cbsl.lk Currency: Sri Lanka Rupee Banking Hours: Monday - Friday : 9.00am - 3.00pm   The Central Bank of Sri Lanka accepts that the credibility of its policy and actions is a prerequisite for the attainment of its goals and that such credibility can only be achieved and maintained through independent action, firmness of principle, resoluteness and fixed intent. List of banks governed by the Central Bank of Sri Lanka Commercial Banks (State owned) » Bank of Ceylon » People's Bank Commercial Banks (Private) » Commercial Bank of Ceylon » Hatton National Bank » DFCC Vardhana Bank » Seylan Bank » Sampath Bank » NDB Bank » Union Commercial Bank » Nations Trust Bank » Pan Asia Banking Corporation Foreign Banks » HSBC Bank » Habib Bank Limited » Standard Chartered Bank » Citibank » Deutsche Bank » State Bank of India » ICICI Bank » Indian Overseas Bank » Indian Bank DISCLAIMER The content comes from Internet, reasonable efforts are made to maintain accuracy of information published. However, information could contain errors or inaccuracies and is presented without warranty and statutory means. No liability is assumed for errors or omissions. Viewers are advised to consult their banker or financial consultant for complete information and their professional advise. All trademarks, logos, brand names and copyrights are the property of their respective owners. © 2011 - 2022 BankHeadOffice.com ® All Rights Reserved