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The General Direction No 01 of 2018 as per the Monetary Board of the Central Bank of Sri Lanka under section 44 of the Payment and Settlement Systems Act No 28 of 2005 came into immediate effect as of 25 July 2018 implies to the operations of the Common Electronic Fund Transfer Switch, Lanka Clear (Pvt) Ltd and members of CEFTS. [8]
The Sri Lankan banking industry was changed during the late 1980s with the introduction of automation by private banking corporations. [10] Previously, few foreign banks were operating within Sri Lanka with few branches such as Hongkong and Shanghai Banking Corporation, etc. HSBC was using interactive electronic customer interfaces such as automated teller machines (ATMs).
The Sri Lanka Interbank Payment System, commonly known as SLIPS, is a LKR-only online interbank payment and fund transfer system in Sri Lanka. [1] [2]SLIPS is owned by LankaClear, an organization owned by the Central Bank of Sri Lanka and all Licensed Commercial Banks operating in Sri Lanka, with 47.19% of shares held by the CBSL and State owned commercial banks, and 52.81% by other private banks.
The Sri Lanka Interbank Payment System (or SLIPS in short) is the largest account-to-account fund transfer network in Sri Lanka. [2] Created by LankaClear, it enables member banks to carry out same-day transfers of up to Rs. 5 million, in a secure paperless process. [3] [4]
The Central Bank of Sri Lanka was established in 1950, two years after independence. The founder governor of the Central Bank of Sri Lanka was John Exter, while the minister of finance at the time was J. R. Jayewardene. Under the former name of Central Bank of Ceylon, it replaced the Currency Board that until then had been responsible for ...
Hatton National Bank PLC (commonly abbreviated as HNB) is a private bank in Sri Lanka with 255 branches and 825 ATMs. The bank traces its origin to 1888 when Hatton Bank commenced its operations in Hatton, Sri Lanka .
1982: BOC founded the first merchant bank in Sri Lanka, which was named the Merchant Bank of Sri Lanka. 1987: The bank moved into its 32-storey headquarters. Sri Lankans have nicknamed the building (Pittu bambuwa "පිට්ටු බම්බුව") a Sinhalese term used for a cylindrical cooking implement. The new building enabled the bank ...
The National Development Bank PLC (commonly referred to as NDB Bank) is a Sri Lankan banking and financial services institution, headquartered in Colombo, Sri Lanka. Having begun operations as a state-owned development finance institution in 1979. In January 1979, the predecessor of National Development Bank PLC (“NDB” or “Bank”) was ...