The Central Bank of Sri Lanka (CBSL) will work closely with the Government in facilitating the establishment of the proposed National Development Banking Corporation (NDBC) by merging the State Mortgage and Investment Bank (SMIB), the Housing Development Finance Corporation (HDFC), and Pradeshiya Sanwardhana Bank (PSB), enabling a new era of development banking in Sri Lanka, Central Bank Governor Deshamanya Professor W D Lakshman said.

Governor Lakshman made this remark whilst delivering "the Road Map: Monetary and Financial Sector Policies for 2021 and Beyond."

Speaking further, Governor Lakshman stated that a regulatory framework for technology risk management and resilience of licensed banks will  be introduced.

"This would prompt banks to upgrade and strengthen their information systems and technology platforms in line with the international standards and best practices," he said.