Central Bank of Sri Lanka preps fintech sandbox

The Central Bank of Sri Lanka aims to establish a Sri Lankan FinTech Regulatory Sandbox with the objective to encourage and enable FinTech initiatives that promote efficiency and increase access to financial products and services. A FinTech Regulatory Sandbox provides a safe space in a controlled environment for selected innovators to test their products and services, without the risk of infringing on regulatory requirements. The Central Bank is in the process of determining the scope of the Regulatory Sandbox. To ensure that it will be beneficial for Sri Lankan FinTech innovators and start-ups, the Central Bank is adopting a participatory approach to engage stakeholders in order to identify market requirements.

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