October 27, Colombo (LNW): Prime Minister Dr Harini Amarasuriya has reaffirmed the Government’s commitment to strengthening Sri Lanka’s financial safeguards as the country begins its third international assessment of measures to combat money laundering, terrorist financing and the financing of proliferation.
The opening meeting of the Mutual Evaluation was conducted by the Asia/Pacific Group on Money Laundering (APG), bringing together senior government officials, financial sector representatives and members of the international assessment team to examine the country’s progress and identify areas requiring further attention.
Speaking at the event, the Prime Minister stressed that the credibility of a nation’s financial system rests not merely on the laws it adopts or the institutions it establishes, but on how effectively, transparently and responsibly they function in practice.
She described the evaluation as an important opportunity for Sri Lanka to demonstrate the progress made in tackling financial crime while identifying weaknesses that need to be addressed to bring national practices closer to internationally recognised standards.
According to a statement from the Prime Minister’s Office, Dr Amarasuriya also highlighted the damaging consequences of corruption and declining public confidence in state institutions, particularly those responsible for managing and regulating financial activities.
She noted that weaknesses in institutional accountability can undermine both economic performance and political stability. Strengthening oversight, improving cooperation among public agencies and ensuring that regulations are properly enforced are therefore essential to protecting the integrity of the financial system.
The assessment comes at a time when countries face increasingly complex financial risks, including illicit money flows and evolving methods used to conceal the proceeds of criminal activity. For Sri Lanka, demonstrating that its safeguards are effective in practice will be important in maintaining confidence among international partners, investors and financial institutions.
The Prime Minister said the Government was prepared to work closely with the assessment team and other relevant stakeholders throughout the review process. She reiterated that the administration remained committed to improving the country’s anti-money laundering and counter-terrorist financing framework, addressing emerging threats and strengthening measures to prevent the financing of proliferation.
The mutual evaluation is expected to help identify both existing strengths and areas where further reforms, stronger coordination or more effective enforcement may be necessary. Its findings will be significant in assessing how well Sri Lanka’s legal and institutional arrangements operate against international requirements.
Among those attending the inaugural meeting were Deputy Minister of Digital Economy Eranga Weeraratne, Central Bank of Sri Lanka Governor Dr Nandalal Weerasinghe, the Secretary to the Ministry of Justice and National Integration, representatives of the Financial Intelligence Unit and members of the APG assessment team.
The Government’s stated priority is to ensure that the evaluation translates into practical improvements, reinforcing financial transparency, strengthening institutional accountability and supporting Sri Lanka’s standing within the international financial community.
