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Sri Lanka

No Open Banking

Sri Lanka is an island country in South Asia.

Half the population of Sri Lanka used the internet, as of January 2021.

In 2020 the Central Bank of Sri Lanka announced they were assessing the possibility of introducing an Open Banking Framework for the country. It invited all stakeholders to share their knowledge an experience prior to developing the framework.

89% of adults in Sri Lanka had bank accounts in 2021, leaving 11% unbanked.

In 2021, the Central Bank launched its first financial inclusion strategy for 2021-2024. 88% of Sri Lankans have bank accounts, and despite good levels of bank branch spread across the country, the uptake of financial products, such as insurance, is modest. In order to address this, the Central Bank aim to develop a National Payments Strategy.

Sri Lanka ranked 62nd out of 134 countries in Wiley’s Digital Skills Global Index 2021.