On July 21, the Parliament of Sri Lanka witnessed the successful passage of the Banking (Special Provisions) Bill, accompanied by amendments to the original text. The legislative process saw a comprehensive debate on the Second Reading of the Bill, which took place from 10.30 a.m. to 4.45 p.m.
Following the deliberations, the Bill was further refined with the incorporation of relevant amendments during the Committee Stage held subsequently. The amendments addressed key concerns and considerations raised during the parliamentary discussions, ensuring a more robust and effective framework for the special provisions related to banking.
The passage of the Banking (Special Provisions) Bill is a significant development in the country’s financial sector, aimed at enhancing regulatory measures and safeguarding the stability of the banking industry.
