Regulatory Alerts2006-03-29 | BCP Guideline No. 01/2006Central Bank of Sri Lanka Guidelines on Business Continuity Planning
The Central Bank of Sri Lanka issued these guidelines to establish a consistent framework for Business Continuity Planning among licensed commercial banks, primary dealers, and settlement system operators. The document mandates that Boards and senior management assume primary responsibility for BCPs, requiring regular testing, clear recovery time objectives, and the mitigation of interdependency and concentration risks. Financial institutions are required to submit revised BCPs and annual risk management statements to the regulator to ensure operational resilience against disruptions.
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