Friday, 13 December 2024 04:59 – – 294
President Anura Kumara Dissanayake yesterday directed the Ministry of Finance to implement measures to enhance the efficiency and resilience of the financial system. He provided these instructions during a discussion with Finance Ministry officials. Highlighting the Central Bank’s crucial role as an independent institution, President Dissanayake assured that the Government would extend its full support and resources to stabilise the country’s finances.
He emphasised the importance of creating an effective mechanism to streamline banking and financial operations, ensuring efficiency and accessibility.
The meeting also focused on the Central Bank’s commitment to studying and closely analysing developments in the economy and the financial system as a whole, and focus on implementing new policies to ensure financial stability and enhance the resilience of the financial system.
Further discussions focused on enforcing macro prudential policies within the financial sector. With the gradual stabilisation of the economy, the emphasis has shifted to fostering safe growth in asset quality, prudent risk management, and capital building. These measures are expected to contribute to the strong performance and sustainability of the financial system in the coming years.
Key participants included Justice Minister Harshana Nanayakkara, Labour Minister and Deputy Minister of Economic Development Prof. Anil Jayantha Fernando, Deputy Minister of Finance and Planning Dr. Harshana Suryapperuma, Ministry of Finance Secretary Mahinda Siriwardana, and Central Bank Governor Dr. Nandalal Weerasinghe, alongside other senior officials.