News
Significant risks in investing in cryptocurrency – CB
The Central Bank of Sri Lanka (CBSL) has warned the public that there are significant risks associated with using and investing in cryptocurrency.
Issuing a press release, the CBSL said crypto-trading is widely promoted by certain entities as a profitable investment. However, recent complaints received by CBSL have shown that members of the public have incurred heavy losses on their crypto-investments and in certain instances have also been subject to financial scams conducted through crypto-related schemes.
Given below is the CBSL press release: “Considering the recent public inquiries and the developments observed relating to cryptocurrencies, which are also commonly referred to as “crypto”, the Central Bank of Sri Lanka (CBSL) wishes to reiterate to the public of the significant risks associated with using and investing in cryptocurrency. Cryptocurrency is a type of virtual currency that is generated by private entities and not by a monetary authority of a country. The term ‘cryptocurrency’ refers to a digital representation of value that is implemented using cryptography and Distributed Ledger Technology (DLT) or similar technology. It is observed that crypto-trading is widely promoted by certain entities as a profitable investment. However, recent complaints received by CBSL have shown that members of the public have incurred heavy losses on their crypto-investments and in certain instances have also been subject to financial scams conducted through crypto-related schemes.
“CBSL has already highlighted, through Press Releases issued in 2018, 2021, and 2022, the significant financial, operational, legal and security related risks as well as customer protection concerns posed to users of cryptocurrency. These risks and concerns have already materialised with the recent failures of various global institutions engaged in cryptocurrency businesses, and the collapse and loss of value of some cryptocurrencies. The public is reminded that cryptocurrencies are unregulated investment instruments which are not recognized as an asset-class in Sri Lanka. Further, cryptocurrencies are not considered as legal tender in Sri Lanka and have no regulatory safeguards relating to their usage in the country. As per the Directions No. 03 of 2021 under Foreign Exchange Act, No. 12 of 2017, Electronic Fund Transfer Cards (EFTCs) such as debit cards and credit cards are not permitted to be used for payments related to cryptocurrency transactions. Cryptocurrency operates through informal channels, and therefore, it does not contribute to the national economy and can also cause a loss of valuable foreign currency to the country.
“The public is also warned of the growing number of financial scams operating with the promise of high returns based on crypto-investments. These scams include deceiving individuals and obtaining money from them with the promise of providing a high return by investing money in cryptocurrency, as well as deceiving individuals to invest in fraudulent cryptocurrency projects. Such scams circumvent traditional regulatory and legal protection mechanisms, resulting in individuals losing their hard-earned money.
“CBSL strongly advises the public to safeguard their hard-earned money and not to invest or engage in any cryptocurrency scheme offered through the Internet, other forms of media, or directly by any persons. The public is also notified that CBSL has not issued any licence or authorized any individual or business to operate schemes involving cryptocurrency, and has not authorized any Initial Coin Offerings (ICOs) or any variant of it, cryptocurrency mining operations, cryptocurrency exchanges, deposit-taking or custody services related to cryptocurrency or any cryptocurrency investment advisory service.
CBSL also urges those who are engaged in promoting and facilitating the promotion of investing and trading in cryptocurrency to refrain from such activities, considering the wide range of risks associated with cryptocurrency and the resulting hardships to the public, including financial losses.”
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Our goal is to build a “Thriving Nation” where a woman can walk without fear or doubt, where her talents are duly recognized, and where she can lead a life of dignity – PM
The PM’s message:
Women are the true pillar of Sri Lankan society and economy. The role they play within the family and in society has today become a decisive factor in shaping the future of our nation. Through the Government’s policy statement, “A Thriving Nation – A Beautiful Life,” we envision going beyond treating women as mere beneficiaries and recognizing them as active partners in national development, ensuring that they receive the dignity and opportunities they rightfully deserve.
Within our policy framework, special focus has been placed on women. We are committed to recognizing the economic contribution extended by women as housewives, promoting women’s entrepreneurship, and expanding access to the technical and financial support necessary for self-employment alongside strengthening the legal framework required to ensure women’s safety in public transport, workplaces, and within the family environment. Further, we are taking steps to create the environment to increase women’s representation in decision-making bodies at national and regional levels. Special attention is also being given to implementing targeted programmes aimed at improving women’s nutrition, reproductive health, and mental well-being.
Women are not a group seeking sympathy; they are vital social partners endowed with intelligence, resilience, and creativity. Our goal is to build a “Thriving Nation” where a woman can walk without fear or doubt, where her talents are duly recognized, and where she can lead a life of dignity
On this International Women’s Day, I sincerely hope that it marks the beginning of a new era in which the aspirations of all women in our country are realized as they shine before the world.
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Heat Index at Caution Level in the Sabaragamuwa, North-western and North-central provinces and in Colombo, Gampaha, Vavuniya, Mannar, Hambantota and Monaragala districts
Warm Weather Advisory issued by the Natural Hazards Early Warning Centre of the Department of Meteorology at 3.30 p.m. on 07 March 2026, valid for 08 March 2026.
Heat index, the temperature felt on human body is likely to increase up to ‘Caution level’ at some places in the Sabaragamuwa, North-western and North-central provinces and in Colombo, Gampaha, Vavuniya, Mannar, Hambantota and Monaragala districts
The Heat Index Forecast is calculated by using relative humidity and maximum temperature and this is the condition that is felt on your body. This is not the forecast of maximum temperature. It is generated by the Department of Meteorology for the next day period and prepared by using global numerical weather prediction model data.

Effect of the heat index on human body is mentioned in the above table and it is prepared on the advice of the Ministry of Health and Indigenous Medical Services.
ACTION REQUIRED
Job sites: Stay hydrated and takes breaks in the shade as often as possible.
Indoors: Check up on the elderly and the sick.
Vehicles: Never leave children unattended.
Outdoors: Limit strenuous outdoor activities, find shade and stay hydrated.
Dress: Wear lightweight and white or light-colored clothing.
Note:
In addition, please refer to advisories issued by the Disaster Preparedness & Response Division, Ministry of Health in this regard as well. For further clarifications please contact 011-7446491.
News
Lanka tea industry may lose $ 10-15 mn per week from ME war
The ongoing military conflict in the Middle East has adversely impacted on the Sri Lankan tea industry as the exporters are unable to supply tea to the region. The exporters estimate the revenue loss at about $ 10-15 million per week. The exporters have orders in hand for supply of tea and it is the logistical issues and war risk preventing them fulfilling such orders, the Tea Exporters Association (TEA) said in a statement.
“In order to mitigate the impact on the industry, the tea industry has jointly requested the government to support it in addressing the cash flow issue and consider absorbing a part of the additional freight and insurance charges. It has also requested government intervention to obtain the balance payment of about $ 50 million due on tea shipments already made to Iran under the barter deal,” TEA said on Friday.
The statement said approximately 52% of Sri Lanka’s tea exports reach the affected region mainly coming from the low grown area of the country dominated by tea smallholder farmers. According to 2025 tea export statistics, about 125 million kilograms of Ceylon tea were exported to the Middle East, with an estimated value of USD 750 million. The major importing countries of Ceylon Tea in the region include Iraq, Iran, Libya, Turkey, Saudi Arabia, Syria, and the United Arab Emirates. Though Libya and Turkey can be reached via Africa, the exorbitant freight charges have prevented the buyers in those countries from importing tea at the moment.
The supply routes to Middle East countries go via Strait of Hormuz and Red sea Suez Canal. Although there is no blockade on Suez Canal, due to the war risk both channels are currently not used by the major shipping lines. The tea exports to the region have almost come to a standstill due to the following reasons:
=All major shipping lines suspended their services to the region immediately after the outbreak of the conflict.
=Several seaports in the region were temporarily closed during the initial stages.
= Although a few shipping lines resumed limited operations from March 4, freight charges have
increased significantly by approximately USD 1,800 for a 20’ container and USD 3,000 for a 40’ container.
= Existing insurance coverage obtained by exporters is no longer valid.
=There is a lack of regular and scheduled vessels operating from Colombo to Middle Eastern destinations.
The tea exporters are experiencing serious cash flow constraints, as payments for shipments already
dispatched have been delayed due to the unsettled situation in the region. This has restricted exporters’
buying capacity and that was evident at this week’s tea auction, where overall prices declined by about Rs. 50/ per kg while low grown tea prices declined by about Rs. 75/ per kg.
If the situation continues for few more weeks it will have a serious impact on the tea auction as buyers may curtail the purchase of tea if the outward movements are restricted. This could directly impact on the income of the tea smallholder farmers.
In January 2026, the country earned $ 121.8 million from tea exports compared to $ 112.7 million in January 2025 (a 5% increase). The figures for February 2026 are not yet available but should be either similar to last year or higher. The disruption to tea exports in March will certainly affect the volume and value of the exports though the exact amounts cannot be estimated at this point.
According to the available data Sri Lanka has settled about 95% of its debt to Iran by supplying tea to Iran under the Tea for Oil mechanism. Even if the military conflict comes to an end, Sri Lanka will find it difficult to continue to supply tea to Iran unless a new mechanism is introduced. Under the prevailing US sanctions on Iran, the exporters may not be able to supply tea to Iran outside the barter system. Iran purchases about 11 million kg of tea from Sri Lanka annually under the barter deal.
The situation was discussed with the Minister of Plantation & Community Infrastructure at a meeting held on March 4, 2026.
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