Sri Lanka, April 9 -- The Central Bank of Sri Lanka has unveiled a comprehensive set of regulations governing how licensed commercial and specialised banks manage outsourced business operations.

Issued on March 25, 2026, Banking Act Directions No. 01 of 2026 aim to create a robust framework for outsourcing, reflecting the rise of digitalised banking processes and evolving financial activities. The new rules will take effect on January 1, 2027, replacing the previous 2012 guidelines.

The directives place strict limits on outsourcing to ensure banks maintain strong risk management, internal controls, and reputations.

Key areas such as deposit-taking, withdrawals, asset and liability management, compliance, risk management, strategic plan...