Monday, 2 February 2015 00:05
Banks play a major role in the economic development of the country and full facilities should be made available to them. Sri Lanka records the highest number of holidays in the world. Sri Lanka has state owned, public owned and private owned banks, and all banks close on all holidays as set out below.
No. of days
Statutory holidays 8 Public, mercantile and bank
Non statutory holidays 5 Public and bank
Poya holidays 12 Public, mercantile and bank
Weekend holidays 104 Public, mercantile and bank
Additional holidays Mercantile and bank
When a statutory holiday falls on a weekend, an additional holiday has to be granted to the ‘mercantile sector only’. If a Poya holiday falls on statutory or weekend holiday, no additional holiday needs to be granted. The Central Bank allowed 5 January 2015 as a special bank holiday in lieu of Prophet Mohamed’s Birthday (Statutory holiday) which fell on a Sunday 4 January 2015, which was a Poya holiday as well.
It is high time that the Government re-considers bank holidays on a more realistic basis in the light of economic development programs.
Hope the public at large agrees with these concerns.
S.R. Balachandran BSc. FCA. FCMA