Category: Banking and Finance

CBSL Orders Forensic Audit into NDB Fraud Case

The Central Bank of Sri Lanka (CBSL) announced that it is closely monitoring developments at National Development Bank PLC (NDB) following the disclosure of an internal fraud. CBSL confirmed that NDB, in consultation with the regulator, is finalizing arrangements to engage a leading international firm to conduct a comprehensive forensic audit. The audit will not […]

Mahindra Ideal Finance Ltd Celebrates Debenture Listing at the Colombo Stock Exchange

Mahindra Ideal Finance Ltd (MIFL) recently marked the official listing of its inaugural debentures and debut listing on the Colombo Stock Exchange (CSE) with a bell ringing and market opening ceremony held at the CSE trading floor, symbolising a key milestone in the company’s capital market journey and its commitment to transparency and strong governance.The […]

IMF

IMF warns Middle East shock could hit Sri Lanka growth, backs targeted relief as tariffs rise

The International Monetary Fund has warned that escalating geopolitical tensions in the Middle East pose a significant risk to Sri Lanka’s economic recovery, even as authorities move ahead with price reforms and fiscal adjustments. The IMF said the evolving crisis could impact key external sectors including exports, remittances, tourism and connectivity, describing it as one […]

Committee on Public Finance Raises NDB Bank Fraud with Central Bank

The Committee on Public Finance (CoPF) met on 07th April 2026 under the chairmanship of Hon Member of Parliament Dr. Harsha de Silva. The Governor of the Central Bank of Sri Lanka (CBSL) Dr. Nandalal Weerasinghe, along with members of the Governing Board, the Monetary Policy Board, and senior officials, attended the meeting as part […]

NDB Reports Internal Fraud to CBSL; Customer Accounts Unaffected

The Central Bank of Sri Lanka (CBSL) stated that the National Development Bank PLC (NDB) has informed CBSL of an internal fraud that could result in a significant financial loss. CBSL further noted that NDB has confirmed no customer accounts or deposits have been affected by this incident. Central Bank said it has carried out […]

Banks to maintain uninterrupted services; SLBA urges public to use digital channels

The Sri Lanka Banks’ Association (SLBA) has assured the public that banks will continue to operate on all five weekdays as an essential service, despite the temporary measures introduced to conserve fuel and energy resources. Accordingly, banks will remain open from Monday to Friday, including Wednesdays, with operations on Wednesdays limited to the hours of […]

Sri Lanka’s Central Bank keeps the overnight policy rate (OPR) unchanged

At its meeting held yesterday, the Monetary Policy Board decided to keep the Overnight Policy Rate (OPR) unchanged at 7.75%, citing an assessment of recent domestic economic developments, the outlook ahead, and continuing global uncertainty. The Board is of the view that the current monetary policy stance will support steering inflation towards the target of […]

ComBank to boost WSME, Agri SME financing with IFC’s USD 60 Mn Risk Sharing Facility

Reinforcing its position as Sri Lanka’s largest lender to small and medium enterprises (SMEs), the Commercial Bank of Ceylon has partnered with the International Finance Corporation (IFC), a member of the World Bank Group, to significantly expand the Bank’s capacity to lend SMEs nationwide.  Under this partnership, IFC will provide risk cover for a US$60 […]

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