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Sri Lanka’s central bank sets up ‘legal and compliance’ department

COLOMBO (EconomyNext) – Sri Lanka’s central bank said it had set up a ‘legal and compliance department’ which will help devise future legislation on the financial sector enforcement of existing laws.

It will also co-ordinate with other government department and regulatory authorities.

The staff of the department will be legally qualified and will also be trained in economic and financial areas. They will advise other central bank departments and represent the agency in court.