Top Indian team concludes programme:
India is focusing on strengthening cooperation with Sri Lanka in the areas of financial sector supervision, regulatory coordination, and emerging challenges in the financial system.
The Indian High Commission has said that a delegation from the Financial Action Task Force (FATF) Cell of the Department of Revenue, recently conducted the second phase of capacity-building and training programmes for officials of the Central Bank of Sri Lanka (CBSL) and other relevant regulatory agencies.
The Indian delegation included experts from the Financial Intelligence Unit (FIU), the FATF Cell, the Reserve Bank of India (RBI), the Securities and Exchange Board of India (SEBI), and the Insurance Regulatory and Development Authority of India (IRDAI).
Such programmes came about after the collapse of Sri Lanka’s national economy in 2022.
IHC spokesperson said: “The programme focused on strengthening cooperation in the areas of financial sector supervision, regulatory coordination, and emerging challenges in the financial system. The training sessions brought together officials from CBSL, the Securities and Exchange Commission, the Insurance Regulatory Commission, and representatives from financial institutions on the Sri Lankan side.
The sessions covered regulatory oversight, supervisory practices, sector-specific approaches, case-based discussions, and experience-sharing with the private sector, allowing participants to work closely with Indian experts on practical aspects of enhancing compliance and institutional capacity.
As part of the visit, the Indian delegation also met with the Governor of CBSL and senior leadership to review ongoing cooperation and identify areas for continued engagement. Discussions included regulatory framework for Virtual Asset Service Providers (VASPs) and insights on India’s experience in digital payments.
This visit builds on earlier virtual interactions and the first phase of engagements held in October this year. Building on this momentum, there will be continued engagements through additional virtual sessions and follow-up visits from both sides, with the objective of furthering bilateral collaboration, enhancing regulatory preparedness, and ensuring alignment with global standards.”