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Banking

SLCB Cabraal: Sri Lanka follows might with money

Central bank governor says bank branches in north will double; New sovereign bond possible

Sri Lanka’s central bank governor, Ajith Nivard Cabraal, says the number of bank branches in the war-torn north of his country will almost double this year

"The new bank branches will ensure that money gets circulated in the north quickly, that remittances get delivered, and that people can get finance to set up new businesses"

Ajith Nivard Cabraal, SLCB

Sri Lanka’s central bank governor, Ajith Nivard Cabraal, says the number of bank branches in the war-torn north of his country will almost double this year. In an interview with Euromoney during a visit to London, Cabraal says he has awarded 70 branch licences to be opened this year in the north. There are only 80 existing branches in the north, which is about a third of Sri Lanka’s land area.

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