Regulatory Alerts2016-07-25 | Banking Act Determination No.1 of 2016Annual Licence Fee for Licensed Commercial and Specialised Banks
The Monetary Board of the Central Bank of Sri Lanka has determined annual licence fees for licensed commercial and specialised banks under Sections 8 and 76D(6) of the Banking Act. Banks must pay these fees by 31 January 2017 based on their total assets as of the end of 2016, with charges scaling from Rs. 2.2 million to Rs. 30 million across seven asset tiers. The structured schedule ensures larger institutions contribute proportionally more, requiring banks exceeding Rs. 750 billion to pay the maximum fee while those under Rs. 25 billion remit the minimum.
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