On December 23, President Anura Kumara Dissanayake led an important discussion on Sri Lanka’s preparation for the mutual evaluation by the Asia Pacific Group on the Prevention of Money Laundering and Countering the Financing of Terrorism. The meeting, held at the Presidential Secretariat, was attended by key stakeholders, including Cabinet Ministers, Ministry Secretaries, Central Bank of Sri Lanka officials, and representatives from the Financial Intelligence Unit (FIU), which plays a crucial role in Sri Lanka’s efforts to meet international standards on anti-money laundering and combating the financing of terrorism.
During the meeting, the Financial Intelligence Unit emphasized the urgency of implementing the Cabinet-approved action plans, which involve 24 different stakeholder institutions, including ministries, regulatory bodies, and law enforcement agencies. These action plans focus on legislative reforms, capacity building, improving inter-agency cooperation, and maintaining comprehensive and accurate statistical records that align with the recommendations made by the Financial Action Task Force (FATF).
The President pointed out that a strong and effective framework for preventing money laundering and combating terrorism financing is essential to uphold the integrity of Sri Lanka’s financial system. He underlined that such a framework is also critical for maintaining the country’s international reputation and confidence in its economy. Achieving a favorable evaluation outcome in the upcoming mutual evaluation is crucial for attracting foreign investment and ensuring that Sri Lanka remains compliant with global financial regulations.
President Dissanayake instructed the Financial Intelligence Unit, along with relevant ministers, secretaries, and officials, to set up dedicated teams to oversee the implementation of these plans. These teams will be tasked with ensuring that Sri Lanka fully complies with the international standards set out by FATF, with a specific focus on addressing any gaps or weaknesses that could impact the country’s financial standing on the global stage. The President emphasized that the progress of these efforts must be closely monitored, with timely updates and accountability at all levels.
Additionally, Deputy Minister of Finance and Planning Dr. Harshana Suriyapperuma and Secretary to the President Dr. Nandika Sanath Kumanayake participated in the meeting, highlighting the collaborative nature of the efforts and the shared responsibility among government institutions to achieve the desired results.
The government’s commitment to strengthening Sri Lanka’s financial integrity is seen as an essential step in building a more stable and transparent financial system, which will ultimately contribute to the country’s long-term economic growth and development.
