Sri Lanka, Sept. 24 -- Sri Lanka Banks' Association (SLBA) presented an economic recovery roadmap to Deputy Minister of Finance, Planning and Economic Development Dr. Anil Jayantha Fernando to strengthen the financial sector capacity for the 2026 National Budget.

The SLBA has called for urgent reforms to support recovery. Proposals include targeted credit guarantee schemes to help revive distressed enterprises, accelerated tax deductibility for impairment provisions to encourage restructuring, and alignment of banking sector taxation with regional benchmarks.

Excessive taxation, currently at 53% for domestic banks and 65% for foreign banks, is described as a barrier to competitiveness and capital formation.

Recognising the backbone rol...