Srilanka, May 9 -- In a move to reinforce operational resilience across the banking sector, the Central Bank of Sri Lanka (CBSL) has issued a new directive mandating licensed banks to promptly report a broad range of information technology (IT) and cybersecurity incidents.

The latest circular that was released this week comes against the backdrop of growing digital adoption among banks and rising threats to data integrity and system stability.

The circular was issued with the financial sector regulator having observed the increased reliance on digital infrastructure by licensed banks, the risk of cyberthreats, data breaches, and system failures that require prompt and transparent reporting of such incidents to CBSL and relevant stakeho...