Speaker Jagath Wickramaratne announced in Parliament (21 Jan) that he has endorsed the certificate for the Colombo Port City Economic Commission (Amendment) Bill on Tuesday, 20 January 2026.
The Bill was first presented to Parliament on 05 December 2025, and was debated and passed on 07 January 2026.
The amendment aims to strengthen the Colombo Port City Economic Commission Act, No. 11 of 2021, by improving regulatory oversight on offshore banking activities and ensuring tax compliance. It also clarifies and revises the criteria related to Businesses of Strategic Importance (BSI).
Under the new Amendment Act, a more stringent supervision mechanism is introduced for financial activities within the Port City Zone. The Central Bank of Sri Lanka is granted authority to regulate and supervise offshore banking activities in accordance with international standards.
Additionally, the Act aligns the Port City’s economic framework with global banking requirements and national financial stability objectives.
With the endorsement, the Colombo Port City Economic Commission (Amendment) Bill is now in operation as the Colombo Port City Economic Commission (Amendment) Act, No. 01 of 2026.
