CBSL opens Jaffna office

The Central Bank of Sri Lanka (CBSL) will open its fourth Provincial Office in Jaffna on Sunday.

CBSL operates Provincial Offices (POs) in the Southern, North-Central and Central Provinces.

One of the primary functions of the POs is to implement development oriented loan schemes introduced by CBSL in the respective provinces. CBSL has implemented a number of credit schemes with refinance facilities through lending institutions to facilitate the flow of development credit. These refinance loan schemes focus mainly on agriculture and livestock development, small and medium scale enterprises SMEs, self employment generation and poverty alleviation.

In addition to facilitating the implementation of credit schemes, POs are engaged in limited central banking functions and conducting of public awareness programs on banking and finance with a view to enhancing the knowledge of investors, teachers, students and the public.

CBSL considers that there are ample opportunities in the Northern Province for development of agriculture, livestock and fisheries industry and most of its development credit schemes are focused on these sectors. In addition, the potential for tourism and the availability of valuable minerals could be considered as important sources that can be developed for both employment generation and increase in production in the region.

The opening of the Jaffna Office will facilitate co-ordination and implementation of development activities by effective engagement of participating finance institutions under the CBSL programs and encourage financial institutions and other entities to use the available resources in an efficient manner for economic development of the region.