The Central Bank of Sri Lanka (CBSL) has implemented a new mandate requiring all depositors at licensed banks and finance companies to provide unique identification numbers. Initially effective from October 1, 2022, this requirement has been updated with new Operating Instructions issued in May 2024 under the Banking (Special Provisions) Act, No. 17 of 2023.

These new guidelines, which replace the previous directives, aim to enhance the accuracy and security of depositor information. Additionally, the deadline for existing depositors to update their unique identification numbers has been extended to December 31, 2024.

This initiative is part of CBSL’s ongoing efforts to improve regulatory standards within the financial sector, ensuring more efficient and secure banking practices across the country.