30th Anniversary: Honoring the Resilience of Central Bank Heroes 📈

The Central Bank of Sri Lanka (CBSL) marks 30 years since the devastating 1996 LTTE terror attack, a pivotal moment that tested the nation's financial stability. Despite the intent to paralyze the economy, the bank resumed operations within just 24 hours. • Human & Infrastructure Impact: The suicide bombing resulted in 41 deaths within the bank and over 50 more in surrounding areas. Approximately 1,200 CBSL officers were injured. Two wings of the iconic headquarters were gutted by fire, and the mainframe computer system was destroyed. • Financial Sector Resilience: • Banking Operations: Resumed on February 1, 1996, from Rajagiriya, ensuring international obligations were met without default. • Currency & Gold: Currency department officers and security personnel secured approximately Rs. 900 million in cash during the chaos, preventing looting and financial panic. • System Recovery: With international support (USAID), hardware was replaced within a week to restore record-keeping and check clearing. • Economic Context & Legacy: • GDP growth in 1996 slowed to 3.8% (down from 5.5% in 1995), impacted by the blast and a severe drought. • The manufacturing and services sectors showed resilience, contributing 36% and 77% to growth respectively that year. • Today, survivors and retirees call for better recognition, specifically regarding pension disparities following recent salary revisions for active staff. The CBSL continues its annual remembrance service every January 31, honoring the "Phoenix" spirit of its workforce who safeguarded the heart of Sri Lanka’s economy.