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Central Bank Of Sri Lanka
The Central Bank of Sri Lanka ( CBSL; si, ශ්රී ලංකා මහ බැංකුව, Sri Lanka Maha Bankuwa) is the monetary authority of Sri Lanka. It was established in 1950 under the Monetary Law Act No.58 of 1949 (MLA), it is a semi-autonomous body, and following the amendments to the MLA in December 2002, is governed by a five-member Monetary Board, comprising the Governor as chairman, the Secretary to the Ministry of Finance and Planning, and three members appointed by the President of Sri Lanka, on the recommendation of the Minister of Finance, with the concurrence of the Constitutional Council. History 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 issuing the country's ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Colombo
Colombo ( ; si, කොළඹ, translit=Koḷam̆ba, ; ta, கொழும்பு, translit=Koḻumpu, ) is the executive and judicial capital and largest city of Sri Lanka by population. According to the Brookings Institution, Colombo metropolitan area has a population of 5.6 million, and 752,993 in the Municipality. It is the financial centre of the island and a tourist destination. It is located on the west coast of the island and adjacent to the Greater Colombo area which includes Sri Jayawardenepura Kotte, the legislative capital of Sri Lanka, and Dehiwala-Mount Lavinia. Colombo is often referred to as the capital since Sri Jayawardenepura Kotte is itself within the urban/suburban area of Colombo. It is also the administrative capital of the Western Province and the district capital of Colombo District. Colombo is a busy and vibrant city with a mixture of modern life, colonial buildings and monuments. Due to its large harbour and its strategic position along th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monetary Policy
Monetary policy is the policy adopted by the monetary authority of a nation to control either the interest rate payable for very short-term borrowing (borrowing by banks from each other to meet their short-term needs) or the money supply, often as an attempt to reduce inflation or the interest rate, to ensure price stability and general trust of the value and stability of the nation's currency. Monetary policy is a modification of the supply of money, i.e. "printing" more money, or decreasing the money supply by changing interest rates or removing excess reserves. This is in contrast to fiscal policy, which relies on taxation, government spending, and government borrowing as methods for a government to manage business cycle phenomena such as recessions. Further purposes of a monetary policy are usually to contribute to the stability of gross domestic product, to achieve and maintain low unemployment, and to maintain predictable exchange rates with other currencies. Monetary ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank Of Sri Lanka
The Central Bank of Sri Lanka ( CBSL; si, ශ්රී ලංකා මහ බැංකුව, Sri Lanka Maha Bankuwa) is the monetary authority of Sri Lanka. It was established in 1950 under the Monetary Law Act No.58 of 1949 (MLA), it is a semi-autonomous body, and following the amendments to the MLA in December 2002, is governed by a five-member Monetary Board, comprising the Governor as chairman, the Secretary to the Ministry of Finance and Planning, and three members appointed by the President of Sri Lanka, on the recommendation of the Minister of Finance, with the concurrence of the Constitutional Council. History 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 issuing the country's ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Currency Museum, Colombo
Economic History Museum of Sri Lanka (commonly known as the Currency museum or Money museum) is located in the Central Point building, 54 Chatham Street, Colombo Fort (the head office of Central Bank of Sri Lanka). Building Construction of the building commenced in 1911, with the laying of its foundation stone. The National Mutual Building was opened in 1914, as the Colombo head office of a global insurance company, National Mutual Life Association of Australasia Limited. At the time of its opening it was the tallest building in Colombo. It was designed in a Greco-Roman architectural style, with a colonnade of Corinthian columns at the building's entrance. It has a circular glass dome with a tapering central atrium that lets light into the circular inner halls throughout all seven floors and features the tallest chandelier in Asia. The building was extensively damaged in the 1996 attack by the Liberation Tigers of Tamil Eelam on the Colombo Central Bank. In 2011 the building ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Colombo Central Bank Bombing
The Central Bank bombing was one of the deadliest attacks carried out by the Liberation Tigers of Tamil Eelam (LTTE) during the separatist civil war in Sri Lanka between the government and the Tamil Tigers. Incident The attack took place on 31 January 1996, in the Sri Lankan city of Colombo. A lorry containing about 440 pounds of high explosives crashed through the main gate of the Central Bank of Sri Lanka, a seaside high-rise which managed most of the financial business of the country. As gunmen traded fire with security guards, the suicide bomber in the lorry detonated the massive bomb, which tore through the bank and damaged eight other buildings nearby. The lorry was followed by a three-wheeler, carrying two LTTE cadres armed with automatic rifles and an RPG launcher. The blast killed at least 91 people and injured 1,400 others. At least 100 people lost their eyesight. Among the wounded were two US citizens, six Japanese, and one Dutch national. Most of these were bystan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ranee Jayamaha
Ranee Jayamaha also spelt as Rani Jayamaha (born 27 May 1949) is a Sri Lankan economist, author and banker. She served as the chairperson of Hatton National Bank from 2011 to 2015. In addition, she is currently an advisor to the President of Sri Lanka in Banking and a former Deputy Governor of the Central Bank of Sri Lanka (2004–2009). She has also served as a member of the Insurance Board of Sri Lanka and a member of Securities and Exchange Commission. Career Jayamaha was born in Colombo, Sri Lanka and received a BA in Banking from the University of Peradeniya, Sri Lanka in 1970, a Masters in Economics from the University of Stirling, UK in 1976 and a PhD in Monetary Economics from the University of Bradford, UK in 1989. She joined the Central Bank of Sri Lanka upon graduation and rose to the rank of Deputy Governor in 2004. She retired from the Central Bank in May 2009 and was subsequently appointed chairperson of the Hatton National Bank, one of the largest private banks i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
President's Counsel
President's Counsel (postnominal PC) is an eminent lawyer who is appointed by the President of Sri Lanka to be one of the "President's Counsel learned in the law". The term is also recognized as an honorific which replaced the practice of appointment of Queen's Counsel (QC) which ceased when Sri Lanka became a republic in 1972. It is equivalent to the appointment of King's Counsel in the United Kingdom and other Commonwealth realms, such as New Zealand, and the equivalent of Senior Counsel in Commonwealth republics, such as South Africa, and derives the same privileges such as the privilege of sitting within the Bar of court. President's Counsel is a professional rank and status, conferred by the President under the Article 33 of the Constitution of Sri Lanka which is recognised by courts. It does not entail the title holder to be a state prosecutor or employed by the state or part of the office of the President. Appointments are made from Attorneys-at-Law who have practiced as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank Of Sri Lanka Building
Central is an adjective usually referring to being in the center of some place or (mathematical) object. Central may also refer to: Directions and generalised locations * Central Africa, a region in the centre of Africa continent, also known as Middle Africa * Central America, a region in the centre of America continent * Central Asia, a region in the centre of Eurasian continent * Central Australia, a region of the Australian continent * Central Belt, an area in the centre of Scotland * Central Europe, a region of the European continent * Central London, the centre of London * Central Region (other) * Central United States, a region of the United States of America Specific locations Countries * Central African Republic, a country in Africa States and provinces * Blue Nile (state) or Central, a state in Sudan * Central Department, Paraguay * Central Province (Kenya) * Central Province (Papua New Guinea) * Central Province (Solomon Islands) * Central Province, Sri Lank ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cabinet Of Sri Lanka
In Sri Lanka, the Cabinet of Ministers is the council of ministers that form the central government of Sri Lanka. The body of senior ministers responsible and answerable to the Parliament of Sri Lanka. The President is a member of the cabinet and its head. The current cabinet is the Wickremesinghe cabinet, which consists of 15 members from August 2020. There are also 38 state ministers who are not members of the cabinet. Background The Executive Council of Ceylon was the Executive Council created in British Ceylon by the British colonial administration on the recommendations of the Colebrooke-Cameron Commission along with the Legislative Council of Ceylon, as the legislative body, on 13 March 1833. At its creation the Executive Council was headed by the Governor, along with five members appointed by the Governor. These five members were officials who held the posts of the Colonial Secretary, the Attorney General, the Auditor-General, the Treasurer and the General Of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Inclusion
Financial inclusion is defined as the availability and equality of opportunities to access financial services. It refers to a process by which individuals and businesses can access appropriate, affordable, and timely financial products and services. These include banking, loan, equity, and insurance products. Financial inclusion efforts typically target those who are unbanked and underbanked, and directs sustainable financial services to them. Financial inclusion is understood to go beyond merely opening a bank account. It is possible for banked individuals to be excluded from financial services. Having more inclusive financial systems has been linked to stronger and more sustainable economic growth and development and thus achieving financial inclusion has become a priority for many countries across the globe. In 2018, it was estimated that about 1.7 billion adults lacked a bank account. Among those who are un-banked a significant number were women and poor people in rural areas a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial System
A financial system is a system that allows the exchange of funds between financial market participants such as lenders, investors, and borrowers. Financial systems operate at national and global levels. Financial institutions consist of complex, closely related services, markets, and institutions intended to provide an efficient and regular linkage between investors and borrowers. In other words, financial systems can be known wherever there exists the exchange of a financial medium (money) while there is a reallocation of funds into needy areas (financial markets, business firms, banks) to utilize the potential of ideal money and place it in use to get benefits out of it. This whole mechanism is known as a financial system. Money, credit, and finance are used as media of exchange in financial systems. They serve as a medium of known value for which goods and services can be exchanged as an alternative to bartering. A modern financial system may include banks (public sector or pri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Asian Clearing Union
The Asian Clearing Union (ACU) was established on December 9, 1974, at the initiative of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP). The primary objective of ACU, at the time of its establishment, was to secure regional co-operation regarding the clearing of eligible monetary transactions among the members of the Union to provide a system for clearing payments among the member countries on a multilateral basis. Objectives * To facilitate settlement of payments on a multilateral basis, * To promote the use of participants' currencies, * To promote monetary co-operation among the participants, * To provide for currency swap arrangement among the participants. Settlement Process Period: Bimonthly Settlement Payment Deadline: T+4 Currency Swap Arrangements Eligibility: Any participant in net deficit Time of request: Before the end of a settlement period Amount: 20% of the average gross payments (ACU dollar/euro/yen accounts collectively ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
