President chairs meeting with heads of banks and financial institutions

Tuesday, 7 April 2026 01:52 - - {{hitsCtrl.values.hits}}

CBSL Chief Dr. Nandalal Weerasinghe flags high cost for dispensing cash transaction services through ATMs; moots transition to new low-cost measures

President Anura Kumara Dissanayake yesterday held a meeting with the heads of banks and financial institutions following the launch of the National QR Payment Promotion Initiative.

The President explained the responsibility entrusted to banks and financial institutions in ensuring the success of the National QR Payment Promotion Initiative, which was launched marking a new milestone in Sri Lanka’s digital transformation. The President also discussed the support that can be extended by the country’s banking system to make this method more convenient and appealing to the public.

Extensive discussions were also held on the urgent measures required to address any obstacles encountered in implementing the program and to ensure its rapid adoption across society.

Expressing his views, Central Bank of Sri Lanka (CBSL) Governor Dr. Nandalal Weerasinghe pointed out that the provision of cash transaction services through ATMs imposes a significant cost on the banking system. He noted that the transition to the new method of transactions would enable a reduction in such costs. The CBSL Governor further emphasised that the new system would offer a more efficient, reliable, and secure method for the public.

The occasion was attended by Digital Economy Deputy Minister Eng. Eranga Weeraratne, Senior Presidential Adviser on Digital Economy Dr. Hans Wijayasuriya, Finance, Planning and Economic Development Ministry Secretary Dr. Harshana Suriyapperuma, Digital Economy Ministry Secretary Waruna Sri Dhanapala, and Senior Additional Secretary to the President Russell Aponsu.

Also present were People’s Bank Chairman Prof. Narada Fernando, Bank of Ceylon Chairman Kavinda de Zoysa, Acting General Manager/CEO Y.A. Jayathilaka, Commercial Bank Chairman Sharhan Muhseen, Sampath Bank MD/CEO Sanjaya Gunawardana, and Hatton National Bank MD/CEO Damith Pallewatte, along with a number of other heads and representatives of State and private banks and financial institutions.