Friday Jul 03, 2026
Friday Jul 03, 2026
Thursday, 2 July 2026 04:22 - - {{hitsCtrl.values.hits}}
The Cabinet of Ministers has approved the procurement process to introduce a technology-based supervisory solution for the Banking Supervision Department of the Central Bank of Sri Lanka (CBSL), with technical assistance from the Asian Development Bank (ADB).
The move is aimed at modernising banking regulation and supervision.
The Banking Supervision Department, which oversees licensed banks to safeguard the stability and soundness of the banking system, currently relies heavily on physical record management for regulatory and supervisory functions.
“The majority of these functions are performed through physical record management, and the implementation of a technology-based supervisory solution to improve the efficiency of these functions has been identified as a priority for the Banking Supervision Department,” Cabinet Spokesman and Minister Dr. Nalinda Jayatissa announced the decision at the weekly post-Cabinet meeting media briefing yesterday.
He said the new digital platform, identified as a priority following a needs assessment conducted with technical assistance from the ADB, is expected to improve the preparation, review, storage and retrieval of supervisory documents while enhancing overall regulatory efficiency.
The proposal to this effect was submitted by President Anura Kumara Dissanayake in his capacity as the Finance, Planning and Economic Development Minister.
