Banking Sense (BM/2015/308)

Banking sector of Sri Lanka The banking sector in Sri Lanka includes both the Licensed Commercial Banks and Licensed Specialized Banks. They have the highest share of the total assets in the financial system. Banks play a vital role within the Sri Lankan financial system to engage in the provision of liquidity to the entire economy and achievement of continuous economic growth. The banking sector in Sri Lanka is supervised and monitored by the supervision department of the Central bank of Sri Lanka. The acts that related to the banking sector are the Banking Act, Monitory Act, and the Exchange Rate Control Act. The Assets of the financial system can be categorized as follows, In the Banking sector, there are 33 banks. It can be divided into two parts, they are, 26 Licenced commercial banks and 7 Licenced specialized banks. The banking sector of Sri Lanka can be categorized as follows, Licensed Commercial Banks ·    Amana Bank PLC  ...

Commercial Bank PLC Product of the bank,          1.       Savings Accounts A.     Main Accounts                            I.           Regular Savings Accounts If you are a resident of Sri Lanka, over the age of 18 years, you can open this as an individual account or a joint account. The interest rate of this account is 3.50% P.A.                          II.           Super Saver Accounts You can open an account with a minimum deposit of Rs 50,000/-. Higher interest rates as your deposit value increases. A Loan facility up to 90% of deposit balance at a special concessio...