Sri Lanka Central Bank establishes legal and compliance Dept

June 12, 2015 (LBO) – The Central Bank of Sri Lanka said that it has established a ‘legal and compliance department’ to entrust the discharge of duties under several legislative enactments which provide powers relating to the supervision and control of banking institutions, non-bank financial institutions and leasing companies. Accordingly, this department is expected to deal with a wide array of issues that will help the bank to have a ‘compliance culture’, the bank said.







The staff of the department will be trained and qualified in the legal field along with the knowledge of the economic and financial subjects.
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The department will work together to advise the several departments of the CBSL on legal issues and to represent the bank in courts and in other legal fora.