Commercial Bank PLC Product of the bank, 1. Savings Accounts A. Main Accounts I. Regular Savings Accounts If you are a resident of Sri Lanka, over the age of 18 years, you can open this as an individual account or a joint account. The interest rate of this account is 3.50% P.A. II. Super Saver Accounts You can open an account with a minimum deposit of Rs 50,000/-. Higher interest rates as your deposit value increases. A L...
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PRODUCTS OF BANK OF CEYLON FACILITIES I. Credit Facilities Bank of Ceylon offer handy financial options for corporate customers to cater for their multi-faceted long term financial needs and to meet the working capital requirements. II. Overdrafts Providing simple and speedy solutions that can be used to finance working capital requirements of your business and to meet any urgent financial needs. III. Money Market Loan Efficient...
Central bank of Sri Lanka VISION A credible and dynamic central bank contributing to the prosperity of Sri Lanka. MISSION Maintaining economic and price stability and financial system stability to support sustainable growth through policy stimulus, advice, commitment and excellence. History of Central Bank The Central Bank of Sri Lanka is the monetory authority of Sri Lanak. . It was createdin 1950 under the Monetary Law Act No.58 of 1949 (MLA), it is a government owned semi-autonomous body, and following the amendments to the MLA in December 2002, is governed by a five-member Monetary Board, comprising the Governor as chairman, the Secretary to the Ministry of Finance and Planning, and three members appointed by the President of Sri Lanka, on the recommendation of the M...
Banking Sector The banking sector in Sri Lanka, which comprises Licensed Commercial Banks (LCBs) and Licenced Specialised banks (LSBs), dominates the financial system and accounts for the highest share of the total assets in the financial system. Banks play a critical role within the Sri Lankan financial system, as they are engaged in provision of liquidity to the entire economy, while transforming the risk characteristics of assets. Banks also engaged in providing payment services, thereby facilitating all entities to carry out their financial transactions. On the other hand, banks can create vulnerabilities of systemic nature, partly due to a mismatch in maturity of assets and liabilities and their interconnectedness. Therefore, the soundness of banks is important, as it contributes towards maintaining confidence in the financial system, and any failure may have the potential to impact on activities of all other financial and non-financial entities, and finally the eco...