The Monetary Board of the Central Bank having considered the possible adverse impact on liquidity and other key performance indicators of licensed commercial banks and licensed specialised banks have issued directions on restrictions on discretionary payments of licensed banks.
Accordingly, these directions shall be applicable to every licensed bank incorporated or established in Sri Lanka and every licensed bank, which is a branch of a bank incorporated or established outside Sri Lanka, on a standalone basis.
Restrictions on Discretionary Payments:
– Every licensed bank incorporated or established in Sri Lanka shall defer payment of cash dividends until the financial statements for the year 2020 are finalised and audited by its External Auditor.