Central Bank of Sri Lanka

The Central Bank of Sri Lanka (CBSL) was set up in 1950 as per the Monetary Law Act No. 58 of 1949 or MLA. It is the governing body of this South Asian country�s banking sector. The semi-independent organization is presently administered by the Monetary Board, as per the MLA modifications that were effected in December 2002.

Central Bank of Sri Lanka – Profile:
The CBSL operates with the vision of being a dynamic and reliable central banking entity that contributes well to Sri Lanka�s economic progress. Its mission is to make sure that the economy, financial system and currency stay stable so that Sri Lanka can grow financially.
Following are the major values of this central bank:
Inspirational leadership
Lifelong knowledge gathering and sharing combined with innovation
Transparency
Consistent, timely, and accurate actions
Accountability
Making sure the bank is operationally independent so that it can make the right policies and then implement them
Integrity
Continuous and urgent commitment towards outputs and results
Professional competence
Commitment towards work practices that encourage participation and collaboration

The Central Bank of Sri Lanka operates with the following monetary policy instruments:
Statutory Reserve Requirement
Policy Interest Rates and Open Market Operations
Central Bank of Sri Lanka – Provincial Offices:
CBSL has offices in five provinces Southern Province, Northern Province, North Central Province, Eastern Province, and Central Province. The offices are based at the following locations:
Galle
Badulla
Matara
Jaffna
Hambantota
Mullaitivu
Monaragala
Kilinochchi
Anuradhapura
Mannar
Polonnaruwa
Vavunia
Kandy
Trincomalee
Matale
Baticaloa
Nuwara Eliya
Ampara

Central Bank of Sri Lanka – Monetary Board:
The Monetary Board of the CBSL is made up of five members the CBSL Governor who operates as the Chairman, the Secretary of the Ministry of Finance and Planning, and the other three members who are chosen by the Sri Lankan President. These members are recommended by the Minister of Finance along with the Constitutional Council.
Central Bank of Sri Lanka – Objectives:
The objectives of the CBSL can be listed as below:
Promotion, development, and support of Sri Lanka s productive economic resources
Managing Employees Provident Fund
Achieving price and economic stability
Managing Public Debt
Issuing and management of currency notes
Administering the Exchange Control Act
Advising on economic affairs
Administering government and overseas credit programs
Financial assistance to the Sri Lankan Government

Central Bank of Sri Lanka – Functions:
The various functions of the bank are as follows:
Managing and issuing currency
Regional development
Managing employees provident fund
Providing fiscal intelligence
Managing foreign exchange
Monitoring the provincial offices
Managing public debt

Central Bank of Sri Lanka – Senior Management Team:
The senior management team of the bank is made up of the following dignitaries:
Governor
Assistant Governors
Deputy Governors
Heads of Departments

At present Ajith Nivard Cabraal serves as the Governor.
Central Bank of Sri Lanka – Contact Details:
The contact details of the CBSL are as follows:
Head Office:
Central Bank of Sri Lanka
P.O. Box 590,
30, Janadhipathi Mawatha,
Colombo 01
Sri Lanka
Phone: 94-11-2477000, 94-11-2440330, 94-11-2330220
Helpdesk numbers: 94-11-2387018, 94-11-2387019, 94-11-2387021
E-mail: cbslgen@cbsl.lk