Wednesday Oct 29, 2025
Wednesday Oct 29, 2025
Wednesday, 29 October 2025 04:49 - - {{hitsCtrl.values.hits}}
The Cabinet of Ministers on Monday green lighted to award a contract to Hong Kong-based Giesecke & Devrient Asia Pacific Ltd., to enhance the currency operations and monitoring activities of the Central Bank of Sri Lanka, following a competitive procurement process.
The approval follows a dual-stage bidding process initiated to select an institution capable of improving the Central Bank’s currency operations.
“Four institutions initially expressed interest. After it met the qualification criteria established by the Higher-Level Standing Procurement Committee and a thorough evaluation of technical and financial proposals, it recommended awarding the contract to Giesecke & Devrient Asia Pacific Ltd.,” Acting Cabinet Spokesman and Minister Vijitha Herath said at the weekly post-Cabinet meeting media briefing yesterday.
He explained that the contract aims to strengthen the Central Bank’s capacity for currency monitoring, enhance operational efficiency and ensure improved management of banknote circulation, reinforcing the overall stability and integrity of the national currency system.
The proposal submitted by President Anura Kumara Disanayake in his capacity as Finance, Planning and Economic Development Minister to formally award the procurement to the Hong Kong-based firm was approved.
