Bank Holidays

Monday, 2 February 2015 00:05 - - {{hitsCtrl.values.hits}}

Bank Holidays Banks play a major role in the economic development of the country and full facilities should be made available to them. Sri Lanka records the highest number of holidays in the world. Sri Lanka has state owned, public owned and private owned banks, and all banks close on all holidays as set out below. No. of days Statutory holidays 8 Public, mercantile and bank Non statutory holidays 5 Public and bank Poya holidays 12 Public, mercantile and bank Weekend holidays 104 Public, mercantile and bank Additional holidays Mercantile and bank When a statutory holiday falls on a weekend, an additional holiday has to be granted to the ‘mercantile sector only’. If a Poya holiday falls on statutory or weekend holiday, no additional holiday needs to be granted. The Central Bank allowed 5 January 2015 as a special bank holiday in lieu of Prophet Mohamed’s Birthday (Statutory holiday) which fell on a Sunday 4 January 2015, which was a Poya holiday as well. It is high time that the Government re-considers bank holidays on a more realistic basis in the light of economic development programs. Hope the public at large agrees with these concerns. S.R. Balachandran BSc. FCA. FCMA