Regulatory Alerts2018-10-18 | Banking Act Determination No.01 of 2018Annual Licence Fee for Licensed Commercial and Specialised Banks
The Monetary Board of the Central Bank of Sri Lanka has determined the annual licence fees for licensed commercial and specialised banks, requiring payment by 31 January each year based on the previous year's total assets. The fee structure ranges from Rs 3 million for banks with under Rs 25 billion in assets to Rs 33 million for those exceeding Rs 1,000 billion. This determination applies to the calendar years 2019 and 2020 under Sections 8 and 76D(6) of the Banking Act, No. 30 of 1988.
MONETARY BOARD CENTRAL BANK OF SRI LANKA
18 October 2018 | BANKING ACT DETERMINATION | No. 01 of 2018
ANNUAL LICENCE FEE OF LICENSED COMMERCIAL BANKS AND LICENSED SPECIALISED BANKS
Determination made by the Monetary Board of the Central Bank of Sri Lanka under Sections 8 and 76D(6) of the Banking Act, No. 30 of 1988, as amended.
In terms of Sections 8(1) and 76D(6) of the Banking Act, the Monetary Board has determined that every licensed commercial bank and licensed specialised bank shall pay the licence fee in respect of the calendar years 2019 and 2020 to the Central Bank of Sri Lanka on or before 31st day of January of each year, based on the total assets of such bank as at the end of the previous year, as set out in the table below.
Annual licence fee for years 2019 and 2020
| Total Assets as at the end of the previous year (Rs. Bn) | Licence Fee (Rs. Mn) |
|---|---|
| Above 1000 | 33 |
| Above 750 to 1000 | 32 |
| Above 500 to 750 | 26 |
| Above 200 to 500 | 23 |
| Above 125 to 200 | 17 |
| Above 75 to 125 | 11.6 |
| 25 to 75 | 6 |
| Less than 25 | 3 |
(Signature)
Dr. Indrajit Coomaraswamy Chairman of the Monetary Board and Governor of the Central Bank of Sri Lanka