2 sourcesUpdated
CBSL Warns Against Risking Stability in FinTech
Sri Lanka's Central Bank Governor cautioned against compromising financial stability amid rapid digital innovation. He emphasized the need for robust regulatory safeguards to protect monetary sovereignty and consumer interests while highlighting potential risks like cyberattacks and market volatility.
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Summary
However, further innovation in financial technology must be accompanied by strong regulatory safeguards to protect financial stability, monetary sovereignty and consumer interests, Central Bank of Sri Lanka (CBSL) Governor Dr. Emphasising the importance of financial stability, Weerasinghe said innovation must advance in a manner that preserves confidence in the financial system and protects the interests of the…
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