December 12, 2024 – Sri Lankan President Anura Kumara Dissanayake has directed the Ministry of Finance to implement measures aimed at strengthening the country’s financial system. The President’s instructions were delivered during a meeting with Finance Ministry officials at the Presidential Secretariat today, where he stressed the need for greater efficiency and resilience in Sri Lanka’s financial institutions.
During the discussion, President Dissanayake highlighted the vital role of the Central Bank as an independent body and reassured officials that the government would provide full support to stabilize the nation’s financial sector. He called for the creation of effective mechanisms to streamline banking operations, ensuring both operational efficiency and accessibility for the public.
A key topic of the meeting was the Central Bank’s ongoing efforts to monitor economic trends and the overall financial system. The President emphasized the need for the development of new policies focused on securing financial stability and improving the resilience of the financial system in the long term.
Additionally, the meeting addressed the enforcement of macroprudential policies within the financial sector. As Sri Lanka’s economy continues to stabilize, discussions have increasingly centered on fostering sustainable growth in asset quality, improving risk management, and building capital reserves. These steps are seen as critical to ensuring the financial system’s robustness and sustainability in the coming years.
Key figures present at the meeting included Minister of Justice Harshana Nanayakkara, Minister of Labour & Deputy Minister of Economic Development Prof. Anil Jayantha Fernando, Deputy Minister of Finance and Planning Dr. Harshana Suryapperuma, Secretary to the Ministry of Finance Mahinda Siriwardena, and Central Bank Governor Dr. Nandalal Weerasinghe, along with other senior officials.
This move is seen as part of Sri Lanka’s broader effort to recover from economic challenges and build a more secure and resilient financial future for the country.
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