SinhalaSriLankaTamilSriLanka

Bank Supervision Division

Our duty is to carry out a productive mission by establishing sustainable development assuring confidence in public while formulating standards for Co-operative Rural Banks, Co-operative Societies on Thrift and Credit Transactions and Co-operative Societies of other financial services. 

Background

At present, Co-operative Societies that perform financial activities in the Sri Lanka Co-operative Movement started with the aim of thrift and credit services can be devided under 3 main categories.

  • Co-operative rural banks
  • Thrift and Credit Co-operative Societies (SANASA)
  • Other financial services co-operative societies

Bank regulatory programme was started to supervise the responsibility assigned on these societies and associations scattered island wide that perform collection of deposits of members and public and provision of credit based on the need of making the task productive.

Administrative composition and officers:

Regulatory task – Hon. Minister of the subject
Supervision and guidance – Secretary to the Ministry
Consultation and supervision – Co-operative Development Commissioner and Co-operative Society Registrar
Co-operative Bank Regulatory Unit of the line Department

Co-operative Bank Regulatory National Committee :

  • Chairman - Secretary to the Ministry
  • Member – Additional Secretary ,Co-operative
  • Co-operative Development Commissioner and Co-operative Society Registrar (Line)
  • All the Co-operative Development Commissioners
  • National level Co-operative Leaders
  • Representatives of Central Bank of Sri Lank and the Peoples Bank

Guidance and co-ordination
Department of Co-operative Development (Line)
Co-operative Banking Regulatory Unit

Our task:

  • Collecting data and information of Co-operative Rural Banks and Financial services societies, reviewing them, forwarding recommendations and implementing them through the relevant Provincial Co-operative Commissioner. 
  • Keeping accounts of the co-operative banks and societies scattered island wide, supervising, preparing administrative systems in a unit.
  • Submitting general instruction leaflets to the Provincial Co-operative Commissioners and taking follow up actions.
  • Awareness for officials of Department of Co-operative Development, Chairman, officials of Board of Directors and top management of societies, operation officers of societies and federations and training and assisting to development activities of physical resources in banks, societies/ federations.
  • Releasing Bank Manuals and Publications.
  • Expansion and development of financial activities in the Co-operative Movement.
  • Taking immediate action regarding public complaints.

Our future plans and targets:

  • Establishment of unitary administration system for Co-operative Rural Banks, Sanasa Societies and other financial services Co-operative Societies.
  • Introducing new technical devises for Banking Societies/Federations.
  • Development of the internal and external premises of Rural Banks and SANASA societies attractively.
  • Creating expansion and financial stability in Bank and Financial activities in the Co-operative Movement in Sri Lanka.
  • Developing a productive service supply through building good governance in banks and societies.

Implementation of common promotion and sales promotion programes.

Instructions sheets issued by Co-operative Banking Regulatory National Unit
Description DOWNLOAD
Maintaining liquidation of financial services co-operative societies Download
Maximum interest rate that can be paid for deposits Download
Suitable investment portfolio Download
Categorizing of inactive loans and provisions for bad debt Download
Streamlining the internal audit process in Co-operative Rural Banks Download
Recruitment, attaching and transferring in Multipurpose Co-operative Societies and rural banks 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/Audit)
Tel: +94 11 2330901
Fax: +94 11 2330706

Latest News & Events

Vacancies for posts of Information Communication & Technical Officer in Department of Co-operative Development Vacancies for posts of Information Communication & Technical Officer in Department of... Read more
Special Notice for the Customers of the Co-operative Societies Special Notice for the Customers of the Co-operative Societies Ministry of Industry and... Read more