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Regulatory Programme of Co-operative Rural Banks and Other Financing Co-operative Societies

Our mission is to provide enormous service to the national economy by standardizing co-operative banks and financing co-operative societies and making sustainable development through ensuring sustainable development.

Background

Co-operative Movement of SriLanka commenced with the objectives of achieving thrift and providing credit could be categorized in to three types of co-operative societies.

  • Co-operative Rural Banks
  • Thrift and Credit  Co-operative  Societies
  • Other financing societies


These societies have been island wide expanded and they are functioning to collect the deposits of public and grant loans. Banking regulation programmes were initiated to supervise the entrusted responsibility and make their functioning productive.

Composition of the Committee and Officers

  • Pioneer Role  - Hon. Minister in charge of the Subject
  • Supervision and Guidance – Secretary of the Ministry
  • Consultation and Supervision – Commissioner of Co-operative Development and Registrar of Co-operative Societies
  • Banking Regulation Unit of the linear department

National Committee of Co-operative Banking Regulation.

i. Chairman - Ministerial Secretary
ii. Member - Additional Secretary (Co-operative)
Commissioner of Co-operative Development and Registrar of Co-operative Societies (Linear)
All the Provincial Co-operative Commissioners
National level Co-operative Leaders
Representatives of Central Bank of Sri Lanka and People’s Bank

Provincial Committees of Co-operative Banking Regulation

Chairman – Provincial Commissioner of Co-operative Development and Registrar
Member - Officers of the Department of Provincial Co-operative Development

Representatives of Provincial Co-operative Societies/Unions

Officers of Central Bank of SriLanka /People’s Bank and Banking Specialists  
Co-ordinating Officers of Provincial and District Departments of Co-operative Development

Our Duties:

  • Collecting information of Co-operative Rural Banks and Financing Societies, reviewing them, giving recommendations and implementing  through the Provincial  Co-operative Commissioner
  • Accounting, scrutinizing and restructuring the administration into one system of all island wide co-operative banks and societies.
  • Present papers on general instructions to Provincial Co-operative Commissioners and carry on follow up activities.
  • Make aware and train the officers of the Department of Co-operative Development, Chairman, Officers of the Board of Directors, Operating officers of Societies/Unions on behalf of the development of banking affairs
  • Giving assistance to the physical development activities of banking societies/unions
  • Issue banking manuals and publications
  • Expand and develop financial affairs of Co-operative Movement
  • Take immediate measures for public complaints 

Our future plans and targets 

  • Take Rural Banks and Cooperative Thrift and Credit Societies under one administration
  • Introducing new technological equipment to banking societies/ Unions
  • Developing indoor and outdoor premises of rural banks and Cooperative Thrift and Credit Societies with attractive outlook.
  • Expansion and ensuring stability of banking and financing affairs of the Co-operative Movement of SriLanka.
  • Making productive service delivery through creating good governance in banks and societies
  • Implementing general propagation and marketing promotion.

  

Guidelines Issued  By Co-operative Bank Supervision Unit
Description DOWNLOAD
Liquidity Limitations for Co-operative Financial Services Societies Download
Maximum Interest Rates for Deposits Download
Investment Portfolio Download
Provision for Bad debts Download
Co-operative Rural Bank Internal Auditing System Download
Staff Recruitment & Transfer Procedures for Co-operative Rural Bank Download
Guidlines for Collecting Deposits in New Year Season Download
With Holding Tax Download

 

 

Manuals & Reports Issued  By Co-operative Bank Supervision Unit
Description DOWNLOAD
Performance Evaluation Report Format for Multipurpose Co-operative Societies Sinhala / Tamil
New Audit Report Format for Multipurpose Co-operative Societies Sinhala / Tamil
New Audit Report Format for Thrift & Credit Societies Sinhala / Tamil
Co-operative Rural Bank Operational Manual Sinhala / Tamil

Further details

Mr. P.A Sarath Ananda
Assistant Commissioner (Bank/Fund/Audit)
Tel: +94 11 2436862
Fax: +94 11 2330706
 

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