Regulatory Alerts2021-08-21 | Circular No. 7 of 2021Provision of Banking Services During the Ongoing Quarantine Curfew Period
The Central Bank of Sri Lanka requires licensed commercial and specialized banks to provide essential banking services uninterruptedly between 10 pm on 20 August and 4 am on 30 August 2021. Licensed banks must operate with minimal staff on a roster basis, strictly follow safety guidelines, and publish clear notices detailing how customers can access these services. Institutions are further directed to maintain accessible contact details, resolve customer inquiries promptly, and actively promote electronic channels such as ATMs, cash machines, and mobile banking.
[Logo of Central Bank of Sri Lanka]
MONETARY BOARD CENTRAL BANK OF SRI LANKA
21 August 2021 | CIRCULAR | No. 07 of 2021
PROVISION OF BANKING SERVICES DURING THE ONGOING QUARANTINE CURFEW PERIOD
Consequent to the issuance of the press release dated 20 August 2021 by the Director General of Health Services outlining the functions that are permitted under quarantine curfew period effective from 10 p.m. 20 August 2021 to 4 a.m. 30 August 2021, the Central Bank of Sri Lanka requests licensed commercial banks and licensed specialised banks (hereinafter referred to as licensed banks) to carry out essential banking services uninterruptedly. Accordingly, all licensed banks shall make necessary arrangements to provide banking services during this period complying with the following:
(i) Open bank branches only to provide essential services such as trade financing, treasury operations, clearing activities, payment of salaries, responding to other urgent requests/inquiries of customers, etc.;
(ii) Operate with the minimal staff required to provide very restricted, essential banking services on a roster basis, or the branches shall only be opened on specified days taking note of specific requirements of customers of each branch;
(iii) Strictly adhere to all relevant safety measures and guidelines;
(iv) Publish notices informing the general public how essential banking services can be obtained;
(v) Take adequate measures to keep the banks’ customers informed of the contact details for obtaining essential banking services during this period, including display of contact details of branch staff at the branch and Hot-line numbers, considering the various preferred modes of transacting;
(vi) Ensure that the customer inquiries are answered and resolved expeditiously; and
(vii) Continue to facilitate and encourage the use of electronic/digital channels, including Automated Teller Machines (ATMs), Cash Deposit Machines (CDMs), Cash Recycling Machines (CRMs), and mobile banking vehicles.
[Signature]
Prof. W D Lakshman Chairman of the Monetary Board and Governor of the Central Bank of Sri Lanka