Cabinet approved a proposal for the new Central Bank of Sri Lanka Draft Bill for strengthening the institutional framework of the CBSL and to render a productive service.

Approval for the preparation of the Central Bank Act was granted at the Cabinet meeting held on 29.10.2019. The Central Bank Bill prepared accordingly has been published in the Government Gazette on 01.01.2019.

Although this was submitted to Parliament for approval, it was not included in the agenda book. New amendments have been added to the original Bill and improved to suit the current needs so that the activities of the Central Bank can be performed more efficiently and effectively.

The President in his capacity as the Minister of finance, Economic Stability and National Policies presented the Bill prepared accordingly by the legal draftsman and the approval of the Cabinet of Ministers granted.