Regulatory Alerts2019-12-19 | Banking Act Determination No.01 of 2019Assessment of Fitness and Propriety of Chief Executive Officer and Officers Performing Executive Functions in Licensed Banks
The Monetary Board of the Central Bank of Sri Lanka requires licensed banks to submit detailed affidavits assessing the fitness and propriety of their Chief Executive Officers and Officers Performing Executive Functions. The determination mandates submission within fifteen working days prior to appointment, outlines specific re-assessment triggers for promotions and contract renewals, and requires prompt reporting of subsequent relevant events. It supersedes previous directives with clear compliance timelines and takes effect on January 1, 2020.
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