Businesses can easily obtain QR codes by contacting their respective financial institutions and reaching a trade agreement, while all banks and financial institutions registered with the Central Bank of Sri Lanka (CBSL) are mandated to issue these codes, says CBSL s Director of Payments and Settlements.

At a media briefing  held at the Presidential Media Center(PMC) after the virtual launch of the Unified Payment Interface (UPI) today (12),  it was revealed that only three (03) transactions per active LankaQR merchant code had taken place in 2023. Director Payments and Settlements, Central Bank of Sri Lanka Wasantha  Alwis, said that LankaQR was […]

Rex Clementine at Pallekele Sri Lankan cricket has been ahead of times compared to some of our Asian neighbours over the years. In our formative years, Gamini Dissanayake was convinced that the team needed a foreign coach and quite a few of them were hired including Sir Garry Sobers to help the team in early […]

President Ranil Wickremesinghe said in Parliamenty yesterday he was aware that Value Added Tax (VAT) was a burden on the public. He said it would be possible to reduce VAT with the passage of time. Delivering the government policy statement at the commencement of the new session of Parliament, the President said: “The prior scarcity […]

The Central Bank of Sri Lanka (CBSL) says it has decided to relax the restrictions imposed on the standing facilities to Licensed Commercial Banks (LCBs) under the Open Market Operations (OMOs).

Urges unity over deep political divisions for effective crisis management Says ‘intricate’ foreign debt restructuring will take up to six months Invites Opposition to confer with institutions that foster international financial stability by Sanath Nanayakkare As government revenue increases, measures will be taken to increase benefits for the people accordingly, President Ranil Wickremesinghe said...

Inaugurating the 5th session of the 9th Parliament of Sri Lanka President Ranil Wickremesinghe called upon all lawmakers to collaborate in nation building  even though they would be contesting elections separately. “From ancient times to the present day, our world has encountered a myriad of crises, spanning nations and personal lives alike. While some crises […]

A special Monetary Policy Board (MPB) Meeting is due to be held today (07 Feb.), the Central Bank of Sri Lanka (CBSL) stated.

The Central Bank of Sri Lanka (CBSL) says Sri Lanka s official reserve assets have recorded an increase of 2.3% in the month of January 2024.

As the Maldives approaches a critical juncture in its economic trajectory, the decisions made by President Mohamed Muizzu are coming under intense scrutiny. The nation, composed of around 550,000 people stands at a crossroads, grappling with economic challenges exacerbated by a series of decisions that have raised eyebrows and sparked concerns. The recent reports indicating […]

Sri Lanka’s Central Bank Thursday announced that six of its senior officials, all with over 20 years service with the bank had been appointed Assistant Governors. The romoted officials are Dr. C Amarasekara, Mrs. WA Dilrukshini, Dr. PKG Harischandra, Mrs. DSW Samaratunga, Mrs. EH Mohotty and Mrs. RDT Gunasekara appointed Assistant Governors with effect from […]

ECONOMYNEXT – Sri Lanka has signed an agreement with Washington-based World Bank to borrow 150 million US dollars to strengthen a deposit insurance scheme, the island’s Finance Ministry said. The funds will come from the low-interest International Development Association window to which Sr Lanka re-qualified after its sovereign default. The project will strengthened the “financial […]

The Central Bank of Sri Lanka (CBSL) says that the cumulative deficit in Sri Lanka s trade account narrowed to USD 4.9 billion from USD 5.2 billion within last year, the lowest recorded since 2010.

Saturday 3rd February, 2024 Sri Lanka is experiencing various shortages, but gazette notifications are never in short supply. The only thing the Gotabaya Rajapaksa government did efficiently was to issue gazettes, but most of which were withdrawn immediately after their issuance. Naturally, Sri Lankans do not take gazettes seriously, especially when they make announcements beneficial […]