Type | Bankers training institute |
---|---|
Established | 1964 |
Location | , |
Campus | Colombo Head Office |
Affiliations | Central Bank of Sri Lanka |
Website | www |
Institute of Bankers of Sri Lanka, also abbreviated as IBSL, is a professional apex body of banking education in Sri Lanka. It is one of the prominent institutes which carry out banking courses for the students and it is closely associated with Central Bank of Sri Lanka. The institute was formally established as the Bankers' Training Institute in 1964 by the Central Bank of Sri Lanka. Bankers' Training Institute was reincorporated in 1979 as Institute of Bankers of Sri Lanka under the provisions of Parliament Act no 26 of 1979. [1]
The institute is managed by a governing board of 12 high-ranking banking sector professionals including two members from CBSL. The purpose of the institute is to provide education in banking and finance for banking and non-banking personnel. [2] The chairman of IBSL is the Deputy Governor of the CBSL. IBSL provides membership of the institute in five categories including Honorary Fellows, Fellows (life), Associate (life) Members, Associate Members and Student Members (Active). [3]
The mixed economy of Sri Lanka was worth $84 billion by nominal gross domestic product (GDP) in 2019 and $296.959 billion by purchasing power parity (PPP). The country had experienced an annual growth of 6.4 percent from 2003 to 2012, well above its regional peers. This growth was driven by the growth of non-tradable sectors, which the World Bank warned to be both unsustainable and unequitable. Growth has slowed since then. In 2019 with an income per capita of 13,620 PPP Dollars or 3,852 (2019) nominal US dollars, Sri Lanka was re-classified as a lower middle income nation with the population around 22 million (2021) by the World Bank from a previous upper middle income status.
The Central Bank of Sri Lanka is the monetary authority of Sri Lanka. It was established in 1950 under the Monetary Law Act No.58 of 1949 (MLA) and in terms of the Central Bank of Sri Lanka Act No. 16 of 2023, the CBSL is a body corporate with perpetual succession and a common seal. The Central Bank has administrative and financial autonomy. The CBSL has two main boards in operation, namely, the Governing Board (GB) and the Monetary Policy Board (MPB).
Commercial Bank of Ceylon PLC (CBC) also known as ComBank is a licensed commercial bank in Sri Lanka and its ownership is private. It was incorporated as a public limited company and it is listed on the Colombo Stock Exchange. It is regarded as the largest private bank in Sri Lanka in terms of net worth and capital. The bank is currently the third largest bank in Sri Lanka in terms of total net assets and it lies behind only Bank of Ceylon and People's Bank. It is also the only private sector licensed bank in Sri Lanka to be designated as the higher-tier domestic systemically important bank according to the Central Bank of Sri Lanka. The bank currently operates a network of 268 branches and around 932 ATM machines across Sri Lanka.
Ananda College is a prestigious Buddhist school in Maradana, Colombo. It was established as the English Buddhist School by Colonel Henry Steel Olcott in 1886. In the present day, it provides primary and secondary education on a campus of 15 acres (61,000 m2).
Marshal of the Air Force W. D. M. J. Roshan Goonetileke, RWP and bar, VSV, USP is a Sri Lankan senior air force officer. He is the current Governor of the Western Province of Sri Lanka.
Amal Uthum Herat born in Colombo, Sri Lanka was Deputy Governor of the Central Bank of Sri Lanka and Alternate Executive Director of the International Monetary Fund.
Ajith Nivard Cabraal is a Sri Lankan accountant and politician who was also the 16th Governor of the Central Bank of Sri Lanka. He is also the former State Minister of Finance, Capital Markets and State Enterprise Reforms and a national list member of parliament since 12 August 2020. He served as the Governor of the Central Bank of Sri Lanka, holding the post from 1 July 2006 until his resignation on 9 January 2015. He again became the Governor of Central Bank of Sri Lanka in September 2021, replacing W. D. Lakshman, and resigned again in April 2022.
The banking sector in Sri Lanka is monitored by the Bank Supervision Department of the Central Bank of Sri Lanka under the Banking Act, Monetary Law Act and the Exchange Control Act.
Ranee Jayamaha also spelt as Rani Jayamaha 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.
Lakshman Arjuna Mahendran is a Sri Lankan-born Singaporean economist and banker. He is a former Governor of the Central Bank of Sri Lanka (CBSL), having been appointed by President Maithripala Sirisena in January 2015 and served until the end of his term on 30 June 2016. He was the former Managing Director of HSBC Private Bank, Chief Investment Officer of Emirates NBD as well as chairman and Director-General of the Board of Investment of Sri Lanka. Mahendran is currently residing in Singapore, which has refused to extradite him on a request from Sri Lanka routed through interpol.
The Governor of the Central Bank of Sri Lanka (CBSL) functions as the chief executive of the Sri Lankan central bank. The post is the ex-officio chairperson of the Monetary Board of Central Bank of Sri Lanka. Since its establishment in 1950, the CBSL has been headed by sixteen governors. The governor has two deputies and several assistant governors. The inaugural officeholder was the American John Exter who served the Government of Sri Lanka in helping found the central bank. The position is currently held by Nandalal Weerasinghe who was appointed to the office on 8 April 2022 following the resignation of Ajith Nivard Cabraal.
Deshamanya Weligamage Don Lakshman popularly known as Professor W. D. Lakshman is a Sri Lankan economist, professor, lecturer, academic and author who also served as the 15th Governor of the Central Bank of Sri Lanka and current chairman of the Monetary Board of the CBSL. He is regarded as one of the prominent economists of the country mainly well known for his immense contributions to policy related activities and for being specialised in the field of Economics.
LankaClear is the largest payments infrastructure provider in Sri Lanka. Established in February 2002, the organization is owned by the Central Bank of Sri Lanka (CBSL) and all CBSL-licensed commercial banks in the country. LankaClear is the operator of LankaPay, the country's largest interbank payment network.
Central Bank of Sri Lanka bond scandal which is also referred as CBSL bond scam was a financial laundering scam which happened on 27 February 2015 and caused losses of more than US$ 11 million to the nation. The bond scam is also regarded as the largest reported financial scam in Sri Lanka despite the country's reputation of having a solid visionary banking system over the years. This was a major blow to the Sri Lankan economy and was also major setback to the newly elected government under the leadership of Maithripala Sirisena which commenced its first term as of 8 January 2015. Arjuna Mahendran was appointed as the Governor of the Central Bank of Sri Lanka replacing Ajith Nivard Cabraal.
Edirisinghe Trust Investments Finance Limited also popularly known as ETI Finance is a Sri Lankan private limited company as well as a non banking financial institution which worked as a licensed finance company accepting deposits from general public. The company's business was primarily based on lending money on gold securities. On 13 July 2020, Central Bank of Sri Lanka decided to cancel the license of the company due to insufficient capital and financial problems regarding repaying depositors' money on demand as well as before maturity.
William Tennekoon was a Sri Lankan banker. He was the Governor of the Central Bank of Ceylon.
The Aquinas College of Higher Studies also known as Aquinas University College is a Sri Lankan nonprofit private Tertiary education institute that provides both academic degrees and vocational training.
People's Leasing & Finance PLC, sometimes called People's Leasing Company or commonly abbreviated PLC, is a licensed non-banking financial company in Sri Lanka. The company is ranked 30th in LMD 100, an annual list of leading listed companies in Sri Lanka. Brand Finance placed the company 21st amongst the 100 most valuable brands in Sri Lanka. The company was incorporated in 1995 and in 2010 listed on the Colombo Stock Exchange. 75% of the shares of the company is held by the People's Bank, one of the two government-held banks of Sri Lanka.
P. Nandalal Weerasinghe is a Sri Lankan economist and banker who is also currently serving as the 17th Governor of the Central Bank of Sri Lanka. A career officer in the Central Bank of Sri Lanka, serving as its chief economist and senior deputy governor. He has also served as an alternative executive director at the International Monetary Fund in Washington DC representing the countries such as Sri Lanka, Bhutan, India and Bangladesh from January 2010 to August 2012. He has also previously acted as a chairman of the monetary policy committee and foreign reserve management committee of the Central Bank of Sri Lanka.