Currency operations to get major upgrade with Hong Kong expertise

Sri Lanka’s financial infrastructure will be strengthened as the Central Bank moves to modernise its currency monitoring operations with the support of Giesecke & Devrient Asia Pacific Limited, Hong Kong.

Cabinet of Ministers this week approved the contract following a dual-stage bidding process, in which four institutions expressed interest initially.

Following technical and financial evaluations, the higher-level standing procurement committee recommended awarding the contract to Giesecke & Devrient, which met all required qualifications.

The move is expected to enhance Central Bank’s capacity to monitor currency operations more effectively, reflecting the government’s broader push to modernise Sri Lanka’s financial systems and infrastructure.