6. concluding remarks ladies and gentlemen, some of these policies may be perceived i hope the policies and the outlook as painful in the short run, but they are unveiled in this road map will be a meant to strengthen medium - term catalyst in planning your activities and stability of the economy. this is crucial formulating relevant policies in the for the long - term prosperity of all sri period ahead. at the same time, i would lankans. like to mention that we would not be hesitant to introduce new policies and plans depending on the requirements of the economy and as contingencies arise. such initiatives would be adopted with necessary consultation and will be clearly communicated to the stakeholders. now, let me conclude this statement by emphasising some important points. as an agent for stability, the central bank would continue to play its role through clear and consistent policies to ensure overall macroeconomic stability in the country. the frameworks that are being developed are intended to support this. our role in relation to the country ’ s economic performance is primarily as a facilitator. as a facilitator, we would it is clear that stability in the economy is continue to support the new growth broadly on track as evident in the model of the government, which improving macro - fundamentals. as the focuses on the central role of the private monetary authority and the apex sector. regulator of the financial system of sri lanka, we are making our best efforts to ensure stable economic conditions on a sustainable basis. our policies aim at supporting the overall thrust of the government to promote investments, domestic and foreign, and enhance exports. to this end, we would be contributing through our efforts to improving the investment climate and facilitating trade, thereby central bank of sri lanka – road map 2017 creating the conditions to harness the priority needs to be attached to benefits of the investment - trade nexus. equitable and inclusive growth, which is in this context, i believe the initial impetus to harness the country ’ s considerable potential must come from the domestic private sector, particularly in the next year or two. the megapolis development project as well as master key to achieving this objective. hence, the central bank will continue its role in regional development to complement these efforts. special attention will be paid to enhancing financial literacy as a means of promoting inclusion. plans, that have been drawn up by the i should also mention that the government for the development of government has announced its intention hambantota, trincomalee and kandy, to restructure the

objectives amendments to the existing banking of our country. we need to have a well - act. accordingly, steps will be initiated planned and an ambitious agenda for to streamline and strengthen the financial sector development and regulatory and supervisory framework reforms ranging across financial sector through the proposed banking act policies with a vision of innovative, amendments. we will consider robust and competitive financial provisions for reinforcing the central systems. banks ’ s enforcement powers for as a priority, we expect to strengthen the regulatory framework pertaining to all financial institutions, including licensed banks, licensed finance violations of the act and the directions issued under it. in this regard, we wish to seek views from the banking sector as well. companies ( lfcs ), specialised leasing in line with these reforms, we intend to companies ( slcs ) and primary dealers. it review all key regulations in the medium - will further ensure the stability of the term. in this regard, we will review key financial sector by promoting the safety banking act directions, such as share and soundness of those institutions to ownership, foreign borrowings, and face unforeseen challenges in the corporate governance, and these will be growing business environment. amended where necessary. in this regard, the central bank wishes to in order to maintain financial stability in implement the following policies in 2017 the country and in line with regulatory and beyond. reforms, we have identified the need for since the last amendment to the existing banking act in 2006, the banking sector landscape has undergone a significant central bank of sri lanka – road map 2017 further strengthening of the supervisory function of the central bank. accordingly, we expect to enhance the bank examination methodology to focus on the efficiency, effectiveness 2014 with a view to further and sustainability of individual banks and strengthening the resilience of licensed the banking sector, based on the bank banks. we have already issued directions sustainability risk index ( bsri ). on the basel iii liquidity coverage ratio accordingly, amendments will be in april 2015. introduced to the existing risk - based supervision framework based on a mix of quantitative and qualitative indicators to enhance focus on sustainability and operational efficiency of banks. we will conduct the pilot run of the risk index on large banks during we have just issued the direction on basel iii minimum capital requirements for implementation on a staggered basis, commencing 01 july 2017, and to be fully implemented by 01 january 2019 in line with the international timeline. the first quarter of 2017 and with a view to creating a more resilient subsequently, the index