ECONOMYNEXT – Sri Lanka’s banking reguator is keeping a close watch on the risk anageemnt culure of financial institutions it regulates, a forum on the banking sector was told.
Yvette Fernando, Assistant Governor of the Central Bank, said the banking sector was strong, having withstood the 2008 global financial crisis, with systems and a close watch on practices needed to ensure compliance with regulations.
“The ratios are good, so we can say the banking sector has become stronger,” she told a forum held by the Ceylon Chamber of Commerce to hold discuss regulatory and compliance challenges in the banking sector.
“But as director of bank supervision I always wanted to know of the risk management culture, that managements know what risks they face.”
A culture of compliance…
