Sri Lanka, July 19 -- Sri Lanka's banking and financial sector must move beyond traditional measures of resilience and strengthen institutional coordination, governance and crisis preparedness to withstand increasingly frequent global shocks, Central Bank of Sri Lanka (CBSL) Deputy Governor in charge of Financial System Stability, K.G.P. Sirikumara said on Wednesday.

"The nation's financial resilience can no longer be assessed solely through capital adequacy, profitability and liquidity positions of the banking and finance sector, as the global economy has entered an era where external shocks have become a recurring feature rather than exceptional events," he said at an event in Colombo. He was speaking at a forum organised by the Sri L...