📈 Cabinet Empowers CBSL with Enhanced Data Collection & Sanctions

The Cabinet of Ministers has approved new regulations to strengthen the Central Bank of Sri Lanka (CBSL) in its data-gathering capabilities for monetary policy, ensuring greater accountability and economic transparency. • New Regulatory Powers: Under the CBSL Act No. 16 of 2023, the newly issued "Rules No. 01 of 2026" define the scope of mandatory information collection, reporting formats, and strict confidentiality protocols. • Enforcement & Sanctions: For the first time, the framework explicitly includes administrative sanctions for entities failing to comply with reporting requirements, aiming to eliminate data gaps in the financial services sector. • Parliamentary Oversight: The 2025 Financial and Operational Report has been cleared for tabling in Parliament. This audited report provides a detailed look at the bank’s performance and its role in maintaining national economic stability. • Policy Impact: These measures, proposed by the President in his capacity as Finance Minister, focus on providing policymakers with reliable, real-time data to refine interest rates and inflation management. _Note: Based on official Cabinet briefing data regarding the March 2026 Extraordinary Gazette._