Sri Lanka launches alert service for investors in government securities
Investors in Sri Lankan government securities will now receive real-time notifications of transactions, the Public Debt Department of the Central Bank of Sri Lanka (CBSL) has confirmed.
The alert service represents the newest feature of the LankaSecure system, which is operated and maintained by the Payments and Settlements Department of CBSL, and facilitates the issuance of government and central bank securities in electronic or ‘scripless’ form.
These alerts will be in the form of an email or SMS, or both, depending on the preference of the investor.
To activate the service, custodian institutions such as commercial banks or primary dealers are required to record the investor’s preferred method of notification along with their relevant contact details in the LankaSecure system.
This service is aimed at improving the awareness of investors as well as preventing fraud.
Moreover, every single movement of scripless securities in the customer’s securities account will be notified.