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History of banking system in srilanka
The Central Bank of Ceylon was established by the Monetary Law Act (MLA) No.58 of 1949 and commenced operations on August 28, 1950. It was renamed the Central Bank of Sri Lanka (CBSL) in 1985. The Central Bank was given wide powers to administer and regulate the entire money, banking and credit system of the country.


Sri Lanka has a fairly well-diversified banking system, which includes the Central Bank of Sri Lanka (CBSL), two large state-owned commercial banks (Ceylon Bank and People’s Bank), eleven private domestic commercial banks, thirteen foreign banks, a national savings bank, a regional development bank, two housing banks, and three licensed specialized banks.  Citibank N.A. is the only U.S. bank operating in Sri Lanka.  The domestic commercial banks operate branches throughout the island.  All commercial banks operate foreign currency banking units and conduct off‑shore business and Finance projects approved by the BOI.  The Central Bank is responsible for regulation and supervision of Sri Lanka's banking system.  The legal framework consists of the Monetary Law Act and the Banking Act.  The Central Bank is empowered to issue detailed directives to the Commercial banks.

What is the bank? 
A bank is a financial institution that accepts deposits from the public and creates credit. Lending activities can be performed either directly or indirectly through capital markets.
Due to their importance in the financial stability of a country, banks are highly regulated in most countries. Most nations have institutionalized a system known as fractional reserve banking under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards.

Banking facilities
  1. Branch in person banking in a retail location
  2. Automated teller machine banking
  3. Bank by mail
  4. Online banking
  5. Mobile banking
  6. Telephone banking
  7. Video banking
  8. Direct selling agent


Comments

  1. DilumMMarch 23, 2019 at 10:52 AM

    Thank you for your valueble information..

    ReplyDelete
  2. TharanganiMarch 23, 2019 at 11:48 AM

    This comment has been removed by the author.

    ReplyDelete
  3. TharanganiMarch 23, 2019 at 11:49 AM

    Good job

    ReplyDelete
  4. UnknownMarch 23, 2019 at 7:31 PM

    Thank you for your information sharing.keep it up!

    ReplyDelete
  5. Anujaya Chathuranga (BM/2015/090)March 23, 2019 at 7:34 PM

    Good article....This article helps to improve our knowledge.

    ReplyDelete
  6. UnknownMarch 23, 2019 at 7:39 PM

    Great attempt

    ReplyDelete
  7. UnknownMarch 23, 2019 at 7:47 PM

    Great work, keep on

    ReplyDelete
  8. UnknownMarch 23, 2019 at 7:50 PM

    Good job

    ReplyDelete
  9. UnknownMarch 23, 2019 at 8:03 PM

    Keep it up.nice job.

    ReplyDelete
  10. piyumiMarch 23, 2019 at 8:12 PM

    Great work dr.. keep it up

    ReplyDelete
  11. UnknownMarch 23, 2019 at 8:45 PM

    Important article. Keep it up

    ReplyDelete
  12. creative business contentsMarch 23, 2019 at 8:54 PM

    This was a great and very detailed article, especially on the difference in structure for thank you

    ReplyDelete
  13. BM/2015/304March 24, 2019 at 1:10 AM

    Great article

    ReplyDelete
  14. LasiniMarch 24, 2019 at 8:45 AM

    Thanks sudima sharing these information with us...

    ReplyDelete
  15. UnknownMarch 24, 2019 at 7:20 PM

    Good work

    ReplyDelete
  16. UnknownMarch 25, 2019 at 1:08 AM

    Interesting article.This is helpful get idea about banking sector & banking facilities.Thanks for the informations & keep it up ✌️

    ReplyDelete
  17. Rushika DiasMarch 25, 2019 at 8:18 AM

    Good job and thank you for sharing informations

    ReplyDelete
  18. UnknownMarch 27, 2019 at 4:55 AM

    Great job sudee... Thank you for sharing these kind of important information with us.. keep it up

    ReplyDelete
  19. bm/2015/343 D.B.P.SrimaliJune 19, 2019 at 9:22 PM

    Valuable informtion

    ReplyDelete
  20. ApsaraJune 29, 2019 at 5:35 AM

    Good ob keep it up

    ReplyDelete
  21. ThiliniJune 29, 2019 at 8:31 PM

    Its great keep it up

    ReplyDelete

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