Regulatory Alerts2011-01-27 | General Direction No. 01/2011General Direction on Sri Lanka Interbank Payment System No. 01/2011
The Monetary Board of the Central Bank of Sri Lanka issued this direction to regulate the operations of the Sri Lanka Interbank Payment System (SLIPS) under the Payment and Settlement Systems Act No. 28 of 2005. It establishes the legal framework, definitions, and specific responsibilities for LankaClear (Pvt) Ltd and all SLIPS participants regarding system operation, security, and settlement. The directive mandates strict adherence to business continuity planning, data confidentiality, and dispute resolution procedures to ensure the safety and efficiency of the national retail payment system.
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