Regulatory Alerts2025-09-17 | Banking Act Direction No. 04 of 2025Recovery Plans for Licensed Banks
The Central Bank of Sri Lanka has issued updated Banking Act Directions establishing comprehensive recovery plans for licensed commercial and specialised banks. Effective 17 September 2025, this directive revokes the previous Directions No. 09 of 2021 to align recovery planning requirements under the Banking (Special Provisions) Act. Licensed financial institutions must now implement the revised framework to ensure operational resilience and facilitate timely resolution of financial distress.
CENTRAL BANK OF SRI LANKA
17 September 2025 | BANKING ACT DIRECTIONS | No. 04 of 2025
RECOVERY PLANS FOR LICENSED COMMERCIAL BANKS AND LICENSED SPECIALISED BANKS
With the issuance of Banking (Special Provisions) Act Directions No. 01 of 2025 dated 17 September 2025 on “Recovery Plans for Licensed Banks”, Banking Act Directions No. 09 of 2021 dated 16.06.2021 on Recovery Plans for Licensed Commercial Banks and Licensed Specialised Banks are hereby revoked.
(Signature)
Dr. P Nandalal Weerasinghe Chairman of the Governing Board and Governor of the Central Bank of Sri Lanka