Regulatory Alerts2019-09-24 | Monetary Law Act Order No. 3 of 2019Maximum Interest Rates on Sri Lanka Rupee Deposits of Licensed Banks
The Central Bank of Sri Lanka rescinded Monetary Law Act Order No. 01 of 2019 to implement updated maximum interest rates for Sri Lanka Rupee deposits at licensed banks. Issued by the Monetary Board on 24 September 2019, this directive replaces prior rate caps and applies universally to all licensed banking institutions. The Governor's formal endorsement establishes the current regulatory ceiling, ensuring consistent interest rate limits across domestic currency deposit accounts.
[Logo of Central Bank of Sri Lanka]
MONETARY BOARD CENTRAL BANK OF SRI LANKA
24 September 2019 | MONETARY LAW ACT ORDER | No. 03 of 2019
MAXIMUM INTEREST RATES ON SRI LANKA RUPEE DEPOSITS OF LICENSED BANKS
Monetary Law Act Order No. 01 of 2019 dated 26.04.2019 on Maximum Interest Rates on Sri Lanka Rupee Deposits of Licensed Banks is hereby rescinded.
[Signature]
Dr. Indrajit Coomaraswamy Chairman of the Monetary Board and Governor of the Central Bank of Sri Lanka