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Central Bank celebrates Diamond Jubilee anniversary

Aug 28, 2010 6:40:50 AM - itnnews.lk

Today is the 60th Anniversary of the Central Bank of Sri Lanka. The Central Bank was setup in 1950 under the then prevailing Financial Regulation Act.

The Finance Secretary said that the Central Bank has dealt with different governments on different complex issues. The experience in dealing with the oil price, balance of payment difficulties, the high budget deficit, domestic inflation, External Reserve management, consumer subsidies, Tsunami and the conflict as well as the responsibility delegated on the Bank and the Monetary Board by the Government clearly demonstrate the mature relationship between the two institutions.

The Central bank started operations in 1950. A number of programmes have been organized to celebrate the Diamond Jubilee of the Prime Financial Institution of the country. While delivering a lecture at the Centre for Banking Studies at Rajagiriya, Secretary to the Finance Ministry Dr. P.B. Jayasundera said that the Central Bank has successfully met various challenges against the economy of this country.

Governor of the Central Bank Ajith Nivard Cabral presented the stamp and the first day cover issued to mark the occasion to Minister Basil Rajapaksa and Finance Secretary Dr. P.B. Jayasundera.