w;s úfYI
wxl 2380$01 - 2024 wfm%a,a ui 15 jeks i÷od - 2024.04.15
No. 2380/01  -  moNday ,   april   15 , 2024EXTRAORDINARYY%S ,xld m%cd;dka;%sl iudcjd§ ckrcfha .eiÜ m;%h
The Gazette of the Democratic Socialist Republic of Sri Lanka
(Published by Authority)
PART I : SECTION (I) — GENERAL
Central Bank of Sri Lanka Notices
1a- G 41759 - 24 (04/2024)
This Gazette Extraordinary can be downloaded from www.documents.gov.lk
CENTRAL   BANk  Of  SRI  LANkA   ACT , No. 16 Of 2023
ordEr made under Section 106(1) of the Central Bank of Sri lanka act, No. 16 of 2023.
    dr. P. Nandalal Weerasinghe ,
   Chairman of the monetary policy Board and
   Governor of the Central Bank of Sri lanka.

Central Bank of Sri lanka,
Colombo,10
th april, 2024.
Maximum Interest Rates on Rupee Denominated Lending Products
monetary law act order No. 01 of 2023 dated 25th august 2023 on maximum interest rates on rupee denominated
Lending Products is hereby rescinded with immediate effect.
The aforesaid order is rescinded considering the notable easing of monetary policy and monetary conditions that has
provided space for licensed banks to reduce the lending rates further.EoG 04 - 0124
priNTEd aT THE dEpar TmENT oF GoVErNmENT priNTiNG,  Sri laNKa.


w;s úfYI
wxl 2404$33 - 2024 Tlaf;dan¾ ui 03 jeks n%yiam;skaod - 2024.10'03
No. 2404/33  -  Thursday ,   OcT Ober  03 ,  2024EXTRAORDINARYY%S ,xld m%cd;dka;%sl iudcjd§ ckrcfha .eiÜ m;%h
The Gazette of the Democratic Socialist Republic of Sri Lanka
(Published by Authority)
PART I : SECTION (I) — GENERAL
Central Bank of Sri Lanka Notices
1a- G 42802 - 24 (10/2024)
This Gazette Extraordinary can be downloaded from  www.documents.gov.lk
BANKING ACT, No. 30 OF 1988, AS AMENDED
Order  published under sections 47(4), 47(11b) and 76K of the banking act, No. 30 of 1988, as amended.
   dr. P. Nandalal Weerasinghe ,
   chairman of the Governing board and
   Governor of the central bank of sri Lanka.

central bank of sri Lanka,
colombo,
01st October, 2024.
LIMITS FOR  ACCOMMODATION GRANTED TO RELATED PARTIES OF LICENSED BANKS
In terms of sections 47(4), 47(11b) and 76K of the banking act, No. 30 of 1988, as amended, the central bank of sri
Lanka has approved the following limits in respect of accommodation granted by a licensed commercial bank and licensed
specialised bank (hereinafter referred to as licensed banks) to related parties as specified in this Order .


I fldgi ( ^I& fPoh - YS% ,xld m%cd;dka;s%l iudcjd§ ckrcfha w;s úfYI .eiÜ m;%h - 2024'10'03
Part  I : Sec. (I) - GAZETTE EXTRAORDINARY OF THE DEMOCRATIC SOCIALIST REPUBLIC OF SRI LANKA - 03.10.20242a
1. Related Parties
of a Licensed Bank1.1 The following categories of persons shall be considered as “related parties” of licensed banks for the purpose of this Order:
(a) a director of a licensed bank;
(b) close relations of such director;
(c) a concern in which a director of a licensed bank has a substantial interest, being an
interest acquired either before or after the appointment as a director of such licensed bank;
(d) a concern in which a close relation of a director of a licensed bank has a substantial interest;
(e) a chief executive officer or an officer performing executive functions of a licensed bank in respect of any accommodation granted other than an accommodation granted to such officer under a scheme applicable to the employees of such bank;
(f) a shareholder of a licensed bank having material interest, whether individual or a con-cern;
(g) a subsidiary or an associate company of the licensed bank;
(h) a holding company of the licensed bank including its subsidiaries, excluding the parent bank and subsidiaries of a bank incorporated outside sri Lanka;
(i) a director of a subsidiary or an associate company of the licensed bank;
(j) a director of a holding company of the licensed bank and its subsidiaries;
(k) a close relation of a person specified in Order 1.1 (e) and (f) above;
(l) a concern, whose director or partner is a director of such bank;
(m) a concern in which a material shareholder of a licensed bank has substantial interest; and
(n) a concern in which a close relation of an individual material shareholder has a substantial interest.
2. Approved limits
in respect of
accommodation granted to Related Parties2.1 The central bank of sri Lanka has approved the following limits in respect of accommodation


granted by licensed banks to related parties of such banks, subject to obtaining approved securities specified in the banking act determination No. 04 of 2024 dated 01.10.2024 on
“approved securities for accommodation Granted to related Parties of Licensed banks”:
(a) In the case of accommodation granted to related parties that are individuals as specified in (a), (b), (e), (f), (i), (j) and (k) of Order 1.1 above; up to rupees Twenty Million
(rs. 20,000,000/-).
(b) In the case of accommodation granted to related parties that are concerns as specified in (c), (d), (f), (g), (h), (m) and (n) of Order 1.1 above; 10% of the Tier 1 capital of the licensed bank.
(c) In the case of accommodation granted to related parties that are concerns as specified in (l) of Order 1.1 above; 15% of the Tier 1 capital of the licensed bank.
       Tier 1 capital as given in (b) and (c) of Order 2.1 above, shall mean the Tier 1 capital
before adjustments, computed in terms of banking act directions No. 0l of 2016 on
“capital requirements under basel III for Licensed commercial banks and Licensed
specialised banks”, as at the end of the preceding financial year or immediately
preceding quarter, subject to certification by the external auditor. In the event of losses subsequent to the audit certification, such losses shall be deducted from Tier I capital for the purpose of this Order.


I fldgi ( ^I& fPoh - YS% ,xld m%cd;dka;s%l iudcjd§ ckrcfha w;s úfYI .eiÜ m;%h - 2024'10'03
Part  I : Sec. (I) - GAZETTE EXTRAORDINARY OF THE DEMOCRATIC SOCIALIST REPUBLIC OF SRI LANKA - 03.10.20243a
2.2(d) In the case of accommodation by way of issue of a credit card to an individual, up to
rupees Two Million (rs.2,000,000/-), provided that such accommodation is on the same terms and conditions as for other customers of the respective bank.
In the case of accommodation granted over and above the proposed limits specified in Order 2.1 above, cash or near cash collateral specified in 2.1 (a), (b), (c) and (d) of the banking act determination No. 04 of 2024 dated 01.10.2024 on “approved securities
for accommodation Granted to related Parties of Licensed banks” shall be obtained by
licensed banks as approved securities.
3. Revocation 3.1 banking act Order published under section 47(4) of the banking act, No. 30 of 1988, as
amended, by banking (amendment) act, No. 2 of 2005, dated 11 February 2005 is revoked.
PrINTed aT The deP arTMeNT OF GOVerNMeNT PrINTING,  srI LaNKa.EOG 10 - 0062