Banks urged to implement CB guidelines | Daily News


 

Banks urged to implement CB guidelines

Central Bank Governor, Professor W D Lakshman today instructed the banks and financial institutions to implement all the instructions given by the Central Bank in the bid to revive the economy in a post-COVID19 scenario.

He also warned the banks and financial institutions not to delay to implementing the instructions and guidelines, which would compel the Central Bank to take action against them in accordance with the available rules and regulations.

In a statement, he said that the Central Bank is optimistic that country would overcome the catastrophic virus epidemic and the country's endeavour to combat COVID 19 is internationally commended as being far better than those of developed nations.

He also said that the political authority, administration, Police, Tri Forces, health sector, Central Bank etc are playing a pivotal role in this endeavour. He added that Central Bank has taken many measures to assist the Government to cope with this situation, including raising Rs 100 billion through Treasury Bills.

He said it is customary for the Central Bank to formulate long term policies in cases such as epidemics. He added that in the aftermath of such a catastrophe, entrepreneurs, businessmen and people must work with vigour to revive the economy.

He also said that this phenomenon is natural with Sri Lankans, as experienced in the past, and the banks and financial institutions should assist them. He added that the Central Bank has already formulated policies and the banks and financial institutions have to implement them without delay.


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