We are Here to protect the Banking Industry– Governor

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Central Bank Governor Dr Nandalal Weerasinghe addressed the 33rd Anniversary convention of the Association of Professional Bankers in Colombo yesterday (20 February) and assured that the measures are being taken to protect and improve the banking system in the country.

He noted that banks were vulnerable due to the economic crisis and the stress that has been placed on the banks due to the macroeconomic issues that has arisen in the economy. In light of the present situation, he highlighted that “We are here to protect and safeguard the banking industry. not only for your stability or the bankers’ stability, but also for the betterment of the people of this country”.

He stated that CBSL has enacted several measures to enhance the resilience of banks to minimize risks and spill over effects to the economy and that the measures that are in place will soon ensure stability in the banking sector.

He further stated that “We are looking to unlock the IMF program with hat we can ease the liquidity situation and the and foreign exchange situation in the banking system. Already we have addressed the rupee liquidity situation and with that lot of economic activities can come back to the economy.”

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